The pauses—which allow a period of negotiations over drug trafficking and border security—provide a cool-down period after a tumultuous few days that put North America on the cusp of a trade war.

U.S. tariffs of 10% on Chinese imports came into effect on Tuesday, risking a renewed trade war between the world's top two economies as President Donald Trumppunishes China for not halting the flow of illicit drugs.

President Donald Trump announced that he’s pausing tariffs on Mexico and Canada after speaking to leaders of both countries on Monday — just hours before the sweeping actions were set to go into effect.