According to President Sheinbaum, Mexico has cut a deal with the U.S. to delay the tariffs. Under the deal, she said Mexico is sending another 10,000 members of its national guard to the southern border to combat drug traffickers, while the U.S. has agreed to do more to prevent the trafficking of high-powered weapons to Mexico.

The world's two biggest economies are on the brink of an economically destructive trade war. Here's what experts think could happen next.

Prepare for volatility as the Trump administration builds up its staff and a more nuanced, but more aggressive, approach to trade is hashed out.

Punishing 25% levies on imports from America’s closest neighbors were due to come into force at 12:01 a.m. ET Tuesday, but Trump put his two-front trade war on hold, claiming he’d scored two big wins and major concessions.

Trump knows the United States has more leverage over its neighbors than they do over his country. But exploiting that position of strength could cause a historic rupture.