President Donald Trump’s threat to impose a 50% tariff on goods from the European Union from June 1 has sharpened fears of a renewed transatlantic trade war, though many analysts see the move as a negotiating tactic rather than a concrete policy shift,

"The E.U., formed for the primary purpose of taking advantage of the U.S. on trade, has been very to deal with."

German Foreign Minister Johann Wadephul said the European Union’s executive commission has his country’s full support in working to preserve the bloc's access to the US market. It comes after U.S. President Donald Trump threatened a 50% tax on all imports from the European Union as well a 25% tariff on Apple products unless iPhones are made in America.