President Trump delayed tariffs for both countries after Mexico’s leader presented her security successes, and after U.S. markets fell and business leaders urged the White House to change course.

Goods covered by the countries’ USMCA agreement get a reprieve, but levies remain in effect for many goods, including oil.

President Donald Trump on Thursday postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war.

Howard Lutnick told CNBC “hopefully Mexico and Canada will have done a good enough job on fentanyl” that the U.S. will focus only on reciprocal tariffs.

President Donald Trump is lifting the tariffs on Mexico for four weeks, while Canada warns of a trade war. FOX 9's Amy Hockert breaks it down.

Canada is delaying its plan for a second phase of retaliatory tariffs against the US after President Donald Trump exempted Canadian and Mexican goods covered by the North American trade agreement.

U.S. Treasury Secretary Scott Bessent says he is not worried about inflation stemming from a trade war with Canada and Mexico. Speaking at the Economic Club of New York on Thursday, Bessent appeared to double down on Trump’s warning that the enactment of new tariffs may cause disruptions.

The U.S. now in a trade war with Canada, Mexico and China as the Trump administration imposes sweeping tariffs.

Canada enters day two of a tariff war with the United States with a glimmer of hope south of border. U.S. Commerce Secretary Howard Lutnick said Tuesday after markets closed that the Trump administration could announce a pathway for tariff relief on Mexican and Canadian goods covered by North America’s free trade agreement as soon as today.