President Donald Trump has announced a one-month delay in implementing 25% tariffs on imports from Canada and Mexico, initially set to take effect on March 4, 2025. This postponement aims to provide these nations additional time to address U.S. concerns regarding drug trafficking and border security.  
In response to the proposed U.S. tariffs, Canada has maintained its retaliatory measures, imposing tariffs on $30 billion CAD (approximately US$21 billion) worth of U.S. goods, targeting products such as orange juice, peanut butter, coffee, and appliances. Despite the U.S. delay, Canadian officials have indicated that these counter-tariffs will remain in place. 
The announcement of the tariff delay has led to positive reactions in financial markets. The Dow Jones Industrial Average recovered most of its recent losses, and both the Canadian dollar and Mexican peso experienced gains. This development has provided temporary relief to investors concerned about escalating trade tensions in North America.   
However, the situation remains fluid, with ongoing discussions and potential for further developments before the new tariff implementation date of April 2, 2025.
