Trump Signs Law to Launch Dollar 2.0

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Europe and Canada are eyeing alternatives to American-made fighter jets. Here's why

STEFANIE DAZIO and TARA COPP
March 19, 2025

BERLIN (AP) -- Questions are mounting in Canada and in Europe over whether big-ticket purchases of high-end U.S. weaponry, such as the F-35 Joint Strike Fighter, are still a wise strategic choice for Western countries worried about their investment in U.S. defense technology.

In less than two months, U.S. President Donald Trump has upended decades of U.S. foreign policy. He has left NATO members questioning whether the U.S. will honor the alliance's commitment to defend each other if other European countries are attacked by Russia. He's also made repeat overtures to Russia and suspended most U.S. foreign aid.

And Pete Hegseth, Trump's defense secretary, last month told a gathering of European defense ministers "that stark strategic realities" prevent the U.S. from being primarily focused on the security of Europe.

That could impact foreign sales of the Lockheed Martin-produced F-35 and other advanced U.S. jets like the F-16. As the war in Ukraine continues into its fourth year, it's become clear that Eastern European NATO members still have vast stores of Soviet-era weapons in their stockpiles that were not interoperable with Western weaponry. A long-term plan to get all of NATO on similar platforms -- by replacing old Soviet-era jets with Western ones, particularly the F-16 and in some cases, the F-35 -- has gained momentum.

Some of the NATO countries are now re-thinking tying their defense to U.S.-made systems and potentially considering European jets like the Saab Gripen, Eurofighter Typhoon and Dassault Rafale instead.

Angering an F-35 partner

In Canada, where Trump has launched a trade war and has threatened economic coercion to make it the 51st American state, new Prime Minister Mark Carney has asked Defense Minister Bill Blair to review its purchase of F-35s. Canada has been a partner with the U.S. in developing the F-35.

Blair will see if there are other options "given the changing environment," a defense spokesman said.

Carney on Tuesday announced a radar purchase from Australia worth Canadian $6 billion ($4.2 billion). The Over-the-Horizon Radar system will provide early warning radar coverage from the Canada-United States border into the Arctic, and officials said it would have a smaller footprint than a similar American system.

And in Portugal, the outgoing defense minister said in an interview with a Portuguese newspaper published last week that "recent positions" taken by the U.S. compelled a rethink about the purchase of F-35s because the U.S. has become unpredictable. Portugal is considering various options to replace its F-16s.

"You're not just buying an airplane, you're buying a relationship with the United States," said Winslow T. Wheeler, a longtime government watchdog who spent 30 years in the U.S. Congress working for Democrats and Republicans on national security and defense issues. "People in the past have not just welcomed but craved that kind of relationship."

The Netherlands and Norway have voiced recent support for the F-35 program in comments to the media.

"The F-35 is a vital component of our national defense capability, and the cooperation and dialogue with the United States continues to support the development and use of this high-end platform," Norwegian State Secretary Andreas Flåm said in a statement. "We expect this constructive cooperation to continue into the future."

The F-35 and a 'kill switch'

The F-35 Joint Strike Fighter was designed to combine stealth, maneuverability and attack capabilities in a single aircraft. Each jet costs about $85 million (78 million euros), and the price jumps to $100 million (91 million euros) to $150 million (137 million euros) when supporting infrastructure and spare parts are included. About 1,100 have been produced to date for 16 military services across the globe.

The F-35B, a variant that can take off from ship decks vertically, is the latest model. It's the most expensive weapons system the U.S. has ever produced, with estimated lifetime costs now expected to top $1.7 trillion. One of the ways the program was counting on reducing those costs was by selling more aircraft to international customers.

But the Trump administration's recent pause on providing intelligence to Ukraine to force the country to negotiate with Russia has fueled fears that the U.S. may have similar ways to coerce them in a future fight -- such as by embedding a hypothetical "kill switch" in the F-35's millions of lines of programming.

In a statement, the Pentagon's F-35 Lightning II Joint Program Office on Tuesday vehemently rejected any notion that jets sold to allies could be remotely disabled.

"There is no kill switch. The F-35 was conceived, developed, and continues to be operated and sustained as a joint/coalition platform, built on strong partnerships with U.S. allies and partner nations across the globe," the office said in a statement. "The strength of the F-35 program lies in its global partnership, and we remain committed to providing all users with the full functionality and support they require."

But that's not the only way to impact an ally's program, Wheeler said. The F-35 requires constant U.S.-controlled tech upgrades to operate in combat. If a relationship with the U.S. soured and updates were delayed, it could make a jet, or even a fleet, inoperable, he said.

Lockheed Martin, in a statement Tuesday, said the company is committed to helping its customers "strengthen their airpower and security with the F-35."

"As part of our government contracts, we deliver all system infrastructure and data required for all F-35 customers to sustain the aircraft," the defense contractor said. "We remain committed to providing affordable and reliable sustainment services to our customers that enable them to complete their missions and come home safely."

European jet alternatives

The Saab Gripen, Eurofighter Typhoon and Dassault Rafale could see an increase in sales if other countries decide to forgo their F-35 purchases. But none of them have the stealth capabilities of the F-35.

The Swedish-made Saab Gripen is used by the militaries of Sweden, the Czech Republic, Hungary, South Africa,Brazil and Thailand. Conventional defense industry wisdom says it's significantly cheaper than the F-35, Wheeler said.

The Eurofighter Typhoon, a swing-role combat aircraft, is part of the British, German, Spanish and Italian forces. It's manufactured by a consortium of defense companies: Airbus, BAE Systems and Leonardo.

The French-built Dassault Rafale twin-jet fighter is used by the French Navy and the French Air and Space Force. The governments of Egypt, India, Qatar, Greece, Croatia, the United Arab Emirates, Serbia and Indonesia have all signed contracts for Rafales.

David Jordan, a senior lecturer in defense studies at King's College London and co-director of the Freeman Air and Space Institute, said that previously, European leaders felt it was easier and more cost-effective to lean on the U.S. defense industry -- and American taxpayers -- to get access to advanced weaponry. But the Trump administration's move away from Europe could be the turning point, Jordan said.

It would require the continent to pool its money and resources -- often a sticking point among the countries -- into research and development, manufacturing and logistics, but Jordan said it's possible within five to 10 years.

"The European defense industry is more than capable of building what it needs," Jordan said.

French President Emmanuel Macron is already ramping up his efforts to persuade France's allies to switch to European defense contractors and weapons systems, including French-built Rafale fighters.

"Those who buy the F-35 should be offered the Rafale. That's how we'll increase the pace," La Dépêche du Midi quoted Macron as saying during a press briefing Friday to journalists from regional French newspapers.

If the Europeans increase their production, it would greatly affect the bottom lines of Lockheed Martin and other U.S. defense companies. Jordan said U.S. defense contractors are likely concerned about Trump's next move.

"At what point will they say 'we don't like this, we're talking about risking billions of dollars here,'" Jordan said.

The White House did not respond to a request for comment Tuesday.

___

Copp reported from Washington.

Continue Reading...

Popular

Bill Gates' Daughter Phoebe's AI Shopping Assistant Found Collecting Extensive User Data: Report

Phia, co-founded by Phoebe Gates, has been found collecting extensive user data through its browser extension, raising privacy concerns.

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Trump White House Clamps Down on Press Access

White House restricts reporter access to West Wing Room 140; NSC cites sensitive material, echoing Pentagon curbs, raising press concerns.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Billie Eilish Asks Zuckerbeg, Other Billionaires To Donate

Billie Eilish urges billionaires to share their wealth for good causes during award acceptance speech. Mark Zuckerberg in attendance.

OpenAI and Amazon sign $38B deal for AI computing power

SEATTLE (AP) — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon's cloud computing services.

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $4,200, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Ferrari CEO Confirms Electric Car Plans, Raises Full-Year Outlook

Ferrari N.V. stock rose after reporting Q3 results and guidance. Sales grew 7.4% and EPS beat estimates. Net revenues and adjusted EPS outlook raised.

Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable

Robinhood has new prediction markets for its customers, with a focus on the entertainment sector. Here are some of the new markets.

Buffett, Gates and Bezos Dumping Stocks - Ad

The world's wealthiest individuals are making huge moves with their money. Warren Buffett just liquidated billions of shares. Bill Gates sold 500,000 shares of Microsoft. Jeff Bezos filed to sell Amazon shares worth $4.8 billion. What is going on? One multi-millionaire believes they are preparing for a catastrophic event. But not a crash, bank run, or recession. It's something we haven't see in America for more than a century.

Trump Says He Knows 'Very Little' About 'Huge' Crypto Industry, But Glad His Sons Are Involved

President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.

Nation's largest fleet of police Cybertrucks to patrol Las Vegas

LAS VEGAS (AP) — The nation's largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private interests.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Trump Barred From Deploying Oregon National Guard To Portland, Judge Cites State Sovereignty

A federal judge handed down a decisive ruling on Friday, blocking Trump's attempt to send Oregon's National Guard to Portland.

Tempus AI Stock (TEM) Slides 6% Overnight: Here's Why The Stock Is Trending

Tempus AI shares fell 6.02% in after-hours trading Tuesday following its third-quarter earnings report.

Nvidia CEO: E.I. Will Be as Common as Cars Today - Ad

E.I. isn't science fiction anymore. It's already here. And one little-known company is quietly supplying the systems behind it. This stock is still under Wall Street's radar... but not for long. You'll get the name, the ticker, and the full thesis inside.

Rivian Automotive CEO Gets An Elon Musk-Style Pay Raise

Rivian CEO's new pay plan could be worth up to $4.6 billion over the next ten years.

[Revealed] The $100 Starlink Pre-IPO Blueprint! - Ad

Fortune reports Starlink's rumored IPO is set to be the single largest IPO in history. James Altucher has uncovered a way to get a pre-IPO stake BEFORE Starlink goes public. All it takes is just a few minutes of time and as little as $100 to get started.

IRS Direct File won't be available next year. Here's what that means for taxpayers

WASHINGTON (AP) — IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed.

Elon Musk Tells Joe Rogan: 'Trump Actually Is Not Perfect, but He's Not Evil'

In a Friday appearance on The Joe Rogan Podcast, Elon Musk defended President Donald Trump, stating that while Trump is "not perfect," he is also "not evil."

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Brazilian environmentalist gets funded by DiCaprio after false forest fire accusation by Bolsonaro

SAO PAULO (AP) — Being falsely accused of setting fire in with funds from an Oscar-winning actor eventually became a blessing in disguise for Caetano Scannavino, the founder of a nonprofit organization in the heart of the rainforest.

Why Did MediciNova Stock (MNOV) Jump Over 87% In After-Hours Trading?

MediciNova shares soared over 87% in after-hours trading on Thursday following the publication of promising research.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk

NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Why Are 21 Billionaires Moving Their Money ASAP? - Ad

One of the biggest stock market events in 25 years is rapidly unfolding... The economist who predicted the 2008 Financial Crisis says it will be: "The Biggest Crash of Our Lifetime." Starting November 19 it could cut the entire tech marketing by HALF.

AP Business News Digest

Here are the AP's top business stories that have moved or are planned to move today. All times U.S. Eastern. For up-to-the minute information on AP's coverage, visit AP Newsroom’s .

Sunrun Stock Drops After Mixed Q3 Earnings Report

Sunrun shares were down after the company released a mixed third-quarter earnings report after Thursday's closing bell.  

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Hillary Clinton Says Trump Taking A 'Break' From Gold-And-Marble Interior Renovations To Defy Court Order On SNAP: 'Nero Would Be Proud'

Hillary Clinton criticizes Trump for withholding SNAP benefits during shutdown, accusing him of defying court order and being indifferent to public suffering. Democrats blast Trump for creating hunger crisis and breaking the law.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright activatrade.ca
Privacy Policy | Terms of Service