President Donald Trump on Thursday announced a nearly one-month tariff delay on all products from Mexico that are covered by the USMCA free trade treaty, a significant walkback of the administration’s signature economic plan that has rattled markets,

WASHINGTON (AP) — U.S. Commerce Secretary Howard Lutnick said Thursday in a television interview that President Donald Trump will “likely” suspend the 25% tariffs on Canada and Mexico for most products and services for a month, broadening an exemption that was granted on Wednesday only to autos.

Howard Lutnick told CNBC “hopefully Mexico and Canada will have done a good enough job on fentanyl” that the U.S. will focus only on reciprocal tariffs.