The main events by the morning: February 21

• Under the chancellorship of Olaf Scholz, Germany's share in world trade dropped to a record 6.3%. The indicator fell even despite the growth of exports to 1.59 trillion euros in 2022. The trade turnover in 2023 amounted to 2.87 trillion euros, becoming the lowest during his reign. The political crisis and the collapse of the coalition have increased economic uncertainty. Polls predict the victory of the opposition in the elections.

• Trump said his administration has implemented a policy of reciprocal duties, protecting American manufacturers and reducing the trade deficit. According to him, these measures will bring billions of dollars to the budget. He also noted the economic successes in the first weeks of work and stressed the importance of protecting workers and combating illegal migration to strengthen the US economy.

• The G7 countries have changed their decision regarding the tightening of the ceiling on Russian oil prices. The original version of the communique, timed to coincide with three years since the beginning of the CBO, was significantly softened. The final document stresses that «reliable security guarantees and Ukraine's integration into the EU will be crucial to ensure lasting peace that prevents future aggression.» In addition, the G7 no longer qualifies Russia's actions as «illegal.»

• Secretary of State Rubio noted that the United States should maintain relations with Russia, regardless of whether they agree with its actions. He criticized the Biden administration for losing contact with Russia, which, according to him, was not observed even at the height of the 20th century Cold War. Rubio also added that the future meeting between Putin and Trump will depend on the settlement process at lower levels.

• The return of foreign automakers to Russia should not cause great difficulties. According to sources, Renault, Nissan, Hyundai, Mercedes and Ford retained the buyback option, which will allow them to easily restore their representative offices in the country. Nevertheless, it is expected that companies wishing to return will be subject to strict localization requirements and the creation of new production facilities.