US President Donald Trump on Thursday delayed some tariffs targeting Canada and Mexico -- leading Ottawa to halt an upcoming wave of countermeasures -- in moves that bring reprieve to companies and consumers after blowback on financial markets.

President Trump suspended tariffs for both countries after Mexico’s leader presented her security successes, and after U.S. markets fell and business leaders urged the White House to change course.

President Donald Trump suspended on Thursday the 25% tariffs he imposed this week on most goods from Canada and Mexico, the latest twist in a fluctuating trade policy that has whipsawed financial markets and fanned worries over inflation and a growth slowdown.