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.

In another reversal, Trump postponed for a month new tariffs on imports from Canada and Mexico that fall under the three nations' free trade deal.

President Donald Trump on Thursday signed executive actions that delay for nearly one month tariffs on all products from Mexico and Canada that are covered by the USMCA free trade treaty, a significant walkback of the administration’s signature economic plan that has rattled markets,