President Donald Trump has announced a 30-day suspension of planned 25% tariffs on imports from Canada and Mexico after both countries pledged to enhance border security and combat drug trafficking.
Canadian Prime Minister Justin Trudeau introduced a $1.3 billion border initiative, including a fentanyl czar and joint task force with the U.S., while Mexican President Claudia Sheinbaum committed 10,000 National Guard troops to strengthen border enforcement.
However, the U.S. will move forward with a 10% tariff on Chinese imports starting February 4, 2025, raising concerns over potential trade escalations.
Markets remain volatile as global trade tensions persist.
