The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

Donald Trump’s tariffs have dealt a €1.3bn (£1.1bn) blow to Volkswagen after the German car giant’s portfolio of luxury brands suffered a drop in sales.

The trend of people driving more has returned to Germany for the first time since 2018. Meanwhile, Constitutional Court dismissed complaint against the use of Ramstein Air Base by the US for drone missions abroad.

Higher tariffs, or import taxes, on European goods mean sellers in the U.S. would have to either increase prices for consumers — risking loss of market share — or swallow the added cost in terms of lower profits. The higher tariffs are expected to hurt export earnings for European firms and slow the economy.

Will Germany forget how to make cars? Only a few years ago the question would have sounded preposterous. After this week, you have to wonder. American voters in particular should be asking, since ...

In a letter to workers, its CEO warned that a new package of cost cuts is coming, in addition to the current plans to reduce its workforce by a tenth by 2029.