German Auto Exports Hit Hard by Trump Tariffs, Study Shows

German car exports to the United States slumped by almost 14% in the first three quarters of 2025, making it the hardest-hit branch of German industry in U.S. President Donald Trump's trade war, according to a study seen by Reuters on Monday. Under an agreement between Washington and Brussels, the U.S. set a 15% baseline tariff on cars from Europe from August 1 - significantly less than Trump's initial rate of 25% on top of a 2.5% existing levy. German engineering companies have also struggled under the tariff regime, with the study showing exports in that sector to the U.S.
Germany
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Russia’s Central Bank Cuts Key Rate, But Policy to Stay Tight

Russia’s central bank Friday lowered its key interest rate for a fifth straight meeting, but said it will continue to keep borrowing costs at a level that restrains activity, the Wall Street Journal reported. The Bank of Russia cut its key rate to 16% from 16.5% on Friday, having begun to lower borrowing costs from a recent peak of 21% in June. Further rate cuts are possible, but the central bank said it won’t move quickly to reach a neutral level, where borrowing costs are neither stimulating nor holding back the economy.
Russia
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