As the US president warns of a ‘a little short-term interruption’, businesses are struggling to make decisions amid heightened uncertainty

Donald Trump declared there to be “no room left” for a deal with Canada and Mexico this week, launching a trade war against his nation’s closest allies that he presented as an effort to protect America’s soul.

Then he pulled back. It wasn’t his first feint and retreat. It probably won’t be the last.

US president paused tariffs on Mexican products covered by USMCA and later stayed tariffs on many Canadian imports

• US politics live

Donald Trump pulled back from his trade war with Canada and Mexico on Thursday, temporarily delaying tariffs on many goods from the two countries once again.

Two days after imposing sweeping tariffs on all imports from his country’s closest trading partners, the US president announced that duties on a wide range of products would be shelved until April.

After a call with top executives at GM, Ford and Stellantis, president approves one-month exemption from tariffs

• US politics live – latest updates

Donald Trump has temporarily spared carmakers from sweeping US tariffs on goods from Canada and Mexico, one day after an economic strike on the US’s two biggest trading partners sparked warnings of widespread price increases and disruption.

The US president extended his aggressive trade strategy at midnight on Tuesday by targeting the country’s two closest neighbors with duties of 25%.