Sure, there are lots of cognates. Some of the hardest to translate words are actually cognates.

For example it's almost impossible to properly translate the German word 'Brot' into English. It's a cognate of 'bread', but Germans mean something very different by 'Brot' than the British mean by 'bread'.

Loaning a word ad-hoc is much easier by comparison. Eg Bundeskanzler means exactly the same in English as it does in German. As does Prime Minister.