THE HAGUE, Netherlands — NATO's summit in the Netherlands on Wednesday has been described as ''transformational'' and ''historic.'' ''We're witnessing the birth of a new NATO," Finland's President Alexander Stubb said.
The 32 members of the world's biggest security organization endorsed a plan to massively ramp up defense spending, ''back to the defense expenditure levels of the Cold War,'' as Stubb put it, driven by U.S. President Donald Trump and fears of the security threat posed by Russia.
Here are some of the takeaways from the two-day meeting in The Hague.
Tens of billions of dollars in new military spending
The nonbinding spending agreement means a steep budget hike for NATO's European members and Canada that will cost them tens of billions of dollars.
It's a major revamp of the way NATO calculates defense spending. Until now, the allies had set a target of 2% of gross domestic product for their defense budgets. Now they'll be aiming for 3.5% by 2035.
They'll now be able to include weapons and ammunition they supply to Ukraine in the equation, making the new target slightly easier to reach, but still difficult for Canada and a number of European countries with economic troubles.
On top of that, the allies will dedicate 1.5% of their GDP to upgrading infrastructure — roads, bridges, ports and airfields — needed to deploy armies to the front. Money spent on protecting networks or preparing societies for future conflict can be included.