A war of words between U.S. President Donald Trump and German Chancellor Angela Merkel in recent weeks has ignited fears that a trade war could be forthcoming, according to a new survey conducted by CNBC.
Chief financial officers (CFOs) from some of the world's biggest firms said they were largely troubled by the strained relationship between Washington and Berlin as stark differences regarding climate, trade and defense have bubbled to the surface.
Over 64 percent of global CFOs – across a wide range of industries – said they were either "somewhat concerned" or "very concerned" with the tense atmosphere that has developed between the U.S. and Germany.
However, 30.8 percent of respondents said they were "not at all concerned" that the Trump administration's policies and rhetoric toward Berlin would lead to a trade war. Just over 5 percent said they did not know whether the latest political developments should be a cause for concern.