US President Donald Trump halted sweeping tariffs on Mexico and Canada just hours before they were due to come into force, pulling North America back from the brink of a damaging trade war.
Deals to delay sweeping tariffs on America’s two biggest trading partners by a month were announced on Monday following separate bilateral calls between Trump and Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.
Trump’s move to back away from the levies for now marks a reversal from the weekend, when he unnerved allies and investors by saying he would follow through on his plans to hit Canada and Mexico with huge levies.
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