Trump backpedals on Mexico, Canada tariffs amid consumer anxiety, stock market tumble

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WASHINGTON – In another shift on tariffs, former President Donald Trump signed an executive order Thursday delaying new tariffs on imports from Canada and Mexico under the United States-Mexico-Canada Agreement (USMCA) for one month.

This move marks the latest reversal in a trade dispute that Trump escalated earlier in the week when he declared there was "no room left" for negotiations and imposed steep 25% tariffs on all imports from the two neighboring countries. On Wednesday, he had already softened his stance by agreeing to exempt automobiles from the tariffs at the request of the three largest U.S. automakers.