U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.

President Donald Trump pulled back from threatening a larger trade war with Europe, again. On May 23, Trump said he would impose a 50% tariff on the EU starting on June 1. He later told reporters he felt no need to cut a deal.

The Court of International Trade ruled Wednesday that President Donald Trump exceeded his authority in imposing tariffs on all imported goods, calling an immediate halt to his signature trade war policy. “The challenged Tariff Orders will be vacated and their operation permanently enjoined,” a three-judge panel ruled.