Goods covered by the countries’ USMCA agreement get a reprieve, but levies remain in effect for many goods, including oil.

President Trump suspended tariffs for both countries after Mexico’s leader presented her security successes, and after U.S. markets fell and business leaders urged the White House to change course.

Howard Lutnick told CNBC “hopefully Mexico and Canada will have done a good enough job on fentanyl” that the U.S. will focus only on reciprocal tariffs.