US President Donald Trump recently announced a temporary suspension of tariffs on Canada and Mexico, aiming to ease trade tensions and alleviate market concerns. This move comes as a relief after a significant market backlash. The suspension is set to be effective until April 2, providing a short-term respite for the affected countries. However, it is important to note that while tariffs have been lifted temporarily, broad tariffs on steel and aluminum are still scheduled to be implemented next week. This decision will have a partial impact on Canada and Mexico, as they remain affected by these specific tariffs. The automotive sector has also received similar relief, indicating a willingness to negotiate and potentially resolve trade disputes. This development is crucial in the context of ongoing trade discussions between the US and its North American neighbors. By temporarily lifting tariffs, President Trump is signaling a potential shift in trade policies, which could have broader implications for the global economy. The decision reflects a calculated effort to address trade imbalances while maintaining diplomatic relationships with key allies. It remains to be seen how this temporary suspension will affect future trade negotiations and whether it will lead to a more permanent resolution in the ongoing trade disputes.