Many imports from Canada and Mexico will be exempt from tariffs, as the president quickly reversed a sweeping trade action taken just two days ago after market turmoil.

President Donald Trump on Thursday signed executive actions that delay for nearly one month tariffs on all products from Mexico and Canada that are covered by the USMCA free trade treaty, a significant walkback of the administration’s signature economic plan that has rattled markets,

In another reversal, Trump postponed for a month new tariffs on imports from Canada and Mexico that fall under the three nations' free trade deal.