The European Central Bank was set to keep interest rates on hold on Thursday, pausing after seven straight cuts as it waited for the fog surrounding Europe’s trade relations with the United States to clear.

President Donald Trump's tariff policies have created global economic uncertainty since taking office. A timeline of key actions reveals rising tariffs on Mexican, Canadian, and Chinese imports, causing market chaos and affecting worldwide trade relations.

The European Central Bank has left interest rates unchanged as it waits to see how big a blow U.S. President Donald Trump’s tariffs will inflict on the economy before deciding whether to cut rates again.