Trump changes course and delays tariffs on Mexico and Canada [Video]

WASHINGTON (AP) — President Donald Trump on Thursday postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war.

The White House insists its tariffs are about stopping the smuggling of fentanyl, but the taxes proposed by Trump have caused a gaping wound in the decades-old North American trade partnership, and Canada has felt compelled to quickly take aggressive countermeasures. Trump’s tariff plans have also caused the stock market to sink and alarmed U.S. consumers.

In addition to his claims about fentanyl, Trump has insisted that the tariffs could be resolved by fixing the trade deficit and he emphasized while speaking in the Oval Office that he still plans to impose “reciprocal” tariffs starting on April 2.

“Most of the tariffs go on April the second,” Trump said before signing the orders. “Right now, we have …