Carney emphasized that Monday's announcement means Canada will hit the NATO spending target "half a decade ahead of schedule," as he had promised to meet the threshold by 2030 during the election campaign.

Saying that the era of the United States' dominance on the world stage is over, Prime Minister Mark Carney has committed his government to meeting the NATO benchmark target of two per cent of the country's gross domestic product by the end of the current fiscal year in March.

Carney framed the new spending as a necessary response to a more dangerous world that has left Canada more vulnerable to threats in the Arctic — and less protected by Americans.