Tax & Spend
Japan Eyes Drone Fleets in Record $60 Billion Defense Budget Proposal
Japan’s Defense Ministry is requesting a record ¥8.8 trillion ($59.8 billion) for its share of the national budget for the fiscal year starting in April, including money for fleets of drones and long-range missiles to counter growing challenges from China and North Korea.
Tokyo is in the process of raising its military budget to around 2% of gross domestic product by 2027 but, like other American allies, it has faced pressure from Donald Trump’s administration to spend much more to lower the burden on the US military.