Trump initially implemented 25% tariffs on Mexican and Canadian imports, along with an additional 10% tax on Chinese goods, bringing the total tariff to 20%, last Tuesday. But he soon backed off, exempting the auto industry for a month from the 25% tax and then expanded that to cover any product covered by the United States–Mexico–Canada Agreement.

President Donald Trump said Thursday that his administration would not consider stock market reaction when hammering out the details of its tariff policy. When asked whether the decision to pause tariffs on many products from Canada and Mexico for one month was due to the stock market,