President Trump suspended 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.

Commerce Secretary Howard Lutnick said a decision is expected this afternoon on the newly instated 25% tariffs on Canada and Mexico. Lutnick told reporte

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,

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 Wednesday, Commerce Secretary Howard Lutnick said.

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.

Congress avoided a government shutdown Friday evening, after the Senate passed legislation that funds the federal government through September at spending levels similar to the 2024 fiscal year.

President Trump is locked in a tit-for-tat tariff war with Canada, Mexico, the European Union and China in a bid to remake the US economy for the long term – and some early winners and losers have already emerged.