Mexico and Canada on Monday reached separate agreements with President Trump to pause tariffs for 30-days, staving off a U.S. trade war with those countries for the time being.Over the weekend, the Trump administration had said it would levy 25% import tariffs on goods from the two countries,

Some of the purported concessions that led to a 30-day pause on the tariffs were things Canada and Mexico had already done before Trump’s threat, but it’s complicated.

The U.S. struck deals with Canada and Mexico on Monday to delay potentially devastating tariffs for a month. Why it matters: The tariffs, had they gone into effect, could have had massive impacts on the economies of all three nations,