Canadian Prime Minister Mark Carney called US President Donald Trump's pause on global tariffs a "welcome reprieve" and said Ottawa will begin negotiations with Washington on a new economic deal after elections.

Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

President Trump's newest tariffs sparked pledges by Canada's prime minster to 'fight' back while some said they were committed to working with partners and others look to take on Washington.

A number of import taxes are still in place, and with many back-and-forth tariff actions and threats, it can be tough to keep track of where things stand.

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed off his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%

From the daily newsletter: how turbulence in the bond market likely inspired the Administration’s change of course.

America’s trading partners around the globe reacted with a mixture of relief and bewilderment to President Donald Trump’s eleventh-hour decision to pause some of his most aggressive tariffs.

This chaos has been bad for everyone. Can the master negotiator now turn it around?

Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike,