Donald Trump has announced that most goods imported from Mexico are to be exempt from his trade tariff regime for at least four weeks, just days after the charges were imposed.
He confirmed the move following a phone call with his Mexican counterpart and, according to his commerce secretary, was due to announce a similar concession to Canada later in the day.
The latest climbdown by the US president came after he surprised financial markets on Wednesday by waiving tariffs against carmakers following pleas from motor industry bosses.
The White House revealed then that parts due to flow into the US from Mexico and Canada as part of the manufacturing supply chain would not qualify for tariffs so long as they complied with a trade agreement struck between the three covering so-called ‘rules of origin’.
It allows goods to move between the three countries tariff-free if they qualify with a designation that they were made in North America.
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