EU proposes 800 billion euro defense spending plan as Trump retreats from Europe

European Commission chief Ursula von der Leyen is presenting a five-part plan to mobilize some 800 billion euros for Europe’s defense — and help provide “immediate” military support for Ukraine after after US President Donald Trump suspended military aid to Kyiv.

“This is a moment for Europe, and we are ready to step up,” von der Leyen announces in Brussels. “‘ReArm Europe’ could mobilize close to 800 billion euros of defense expenditures for a safe and resilient Europe.”

The EU will propose to give member states more fiscal space for defense investments, as well as 150 billion euros in loans for those investments, and will aim to mobilize private capital as well, von der Leyen says.

Meanwhile, the UK says Prime Minister Keir Starmer is homed in on securing peace in Ukraine, while engaging allies on the issue.

“We remain absolutely committed to securing a lasting peace in Ukraine and are engaging with key allies in support of this effort. It is the right thing to do, and is in our interest to do so,” a British government spokesperson said in a statement.

Deputy Premier Angela Rayner tells BBC Radio that Starmer is “laser focused on getting peace. He won’t be derailed by announcements.”