Trump says will consider leaving NATO if allies didn't 'pay bills’
4 Min Read
The US president-elect details sweeping changes he’ll carry out on day one and beyond involving tariffs, mass deportation, and NATO doubts.
-
Donald Trump during an interview with Kristen Welker on NBC, on December 6, 2024 (Social media)
US President-elect Donald Trump reiterated his campaign promises to impose trade tariffs and carry out mass deportations on Sunday, while also hinting at the possibility of withdrawing from NATO.
In his first major televised interview, six weeks before taking office, Trump said he would "absolutely" consider leaving NATO if allies didn't "pay their bills."
"They have to pay their bills," Trump told NBC's "Meet the Press," saying he would "absolutely" consider taking the United States out of the alliance unless members are "treating us fairly."
He also suggested that US backing for Ukraine would be reduced, stating he would "probably" limit funds to Kiev, which the United States has been steadfastly backing since the war in Ukraine broke out.
"Possibly. Yeah, probably, sure," he told the US news outlet.
The interview on NBC's "Meet the Press with Kristen Welker" was filmed Friday ahead of Trump's meetings with the presidents of France and Ukraine over the weekend but was broadcast Sunday.
Trump reportedly stated that he would "very quickly" consider pardons for supporters incarcerated for storming the US Capitol following his 2020 election defeat to Joe Biden.
He also insisted that his campaign vows of massive tariffs, including those against big US trading partners Canada, Mexico, and China, will be fulfilled, reiterating that "we're subsidizing Mexico and we're subsidizing Canada and we're subsidizing many countries all over the world."
Trump said that "properly used" tariffs are "a very powerful tool," adding that they would also be used beyond economically.
Regarding whether Americans will face higher costs as a result of the tariffs, Trump stated he "can't guarantee anything. I can't guarantee tomorrow."
Trump has a history of going against tradition to weaken the independence of the US Federal Reserve, but he has sworn not to change Chairman Jerome Powell.
However, he stated that he will proceed with what economists believe might be a very disruptive mass deportation of undocumented immigrants in the United States, citing that "it's a very tough thing to do. But you have to have rules, regulations, laws. They came in illegally."
He stated that he would repeal the constitutionally protected right to US citizenship for anybody born in the nation, calling it "ridiculous". It is unclear how Trump will do this, but he stated, "If we can, through executive action."
"We're going to have to get it changed. We'll maybe have to go back to the people. But we have to end it," he declared.
Read more: Settlement with Russia should be ‘just’: Zelensky at Trump meeting
Trump could blow up dollar, disrupting global market: Danish bank
Denmark's Saxo Bank has unveiled its annual "outrageous predictions" which highlight potential but improbable events that could disrupt global financial markets in 2025.
In its forecast, the investment bank suggests that the world will seek alternatives to the US dollar in the coming year, triggered by the incoming Donald Trump administration imposing hefty tariffs on imports and slashing government spending, with the help of an Elon Musk-led Department of Government Efficiency.
Saxo’s chief macro strategist, John Hardy, said that “the implications for the US dollar are dire for trade around the world, as it cuts off the needed supply of dollars to keep the wheels of the global USD system turning, ironically risking a powerful spike higher in the US dollar."
As a result, the cryptocurrency market is expected to surge, potentially reaching over $10 trillion, while the US dollar could decline by 20% against major currencies and fall 30% relative to gold.
Analysts at the Copenhagen-based bank also predict that Nvidia’s market value could soar to twice that of Apple, fueled by the expanded availability of its revolutionary 208-billion transistor Blackwell chip.
According to the bank, as the AI arms race intensifies, "no giant or even government wants to be left behind, and as AI data center electricity costs have soared, the insatiable demand for the more powerful and yet less power-hungry Blackwell chips sees Nvidia taking the crown as the most profitable company of all time."
