The Danish maker of Ozempic and Wegovy reported a 25 percent increase in sales to $40.6 billion, but said it expected slower growth this year.

Manufacturers from Asia, Europe and elsewhere have poured billions into North American supply chains that could be hit by new taxes on Mexico, Canada and China.

The European Central Bank’s reduction, the fifth consecutive cut since last summer, came a day after the U.S. Federal Reserve held interest rates.

Several large U.S. financial institutions, including the Federal Reserve, have withdrawn from the networks after years of growing political and legal pressure.