German foreign minister Johann Wadephul said the country was backing U.S. President Donald Trump's call to increase the defense spending target of NATO members.

Trump’s demand has rattled many European allies, particularly those already struggling to meet Nato’s existing target of spending at least two per cent of GDP on defence. None of Nato’s 32 members, including the United States,

European defense stocks were rallying on Thursday, as Germany’s foreign minister said the country accepted the 5% of GDP defense-spending target for NATO countries.