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International Business Times
International Business Times
National

Trump Backs Off Mexico, Canada Tariffs After Market Blowback

Donald Trump X United States Canada Mexico Justin Trudeau Scott Lincicome Washington D.C. China
Trump said more tariffs would come on April 2, adding they will be "reciprocal in nature." He had earlier vowed reciprocal levies to remedy practices Washington deems unfair. (Credit: AFP)

US President Donald Trump on Thursday delayed some tariffs targeting Canada and Mexico, leading Ottawa to halt an upcoming wave of countermeasures -- offering a reprieve to companies and consumers after blowback on financial markets.

Stock markets tumbled after Trump's duties of up to 25 percent took effect Tuesday, as economists warned that blanket levies could weigh on US growth and raise inflation.

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