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.

Canada's main stock index opened lower on Thursday, with energy stocks leading the losses, after the previous session's rally spurred by U.S. President Donald Trump's temporary tariff relief.

President Donald Trump’s sudden change to tariff policy on Wednesday won’t affect the rates that currently apply Canadian and Mexican products, according to a White House official.

The U.S. tariffs on goods imported from Mexico and Canada will not be affected by the 90-day pause on tariffs announced by President Donald Trump on Wednesday, a White House official said. The United States' 25% tariff on goods it imports from Mexico and Canada that are not covered under the region's USMCA trade pact remains in effect,

Among the countries hoping to negotiate a route out of US tariffs as soon as possible is Bangladesh, the world’s second largest maker of clothing. In the next few hours, it faces a 37% tax imposed on anything sold into the US.

Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward. The S&P closed below 5,000 for the first time in nearly a year on Tuesday and is nearing a bear market,

World shares slumped on Wednesday after U.S. President Donald Trump’s latest tariff hikes took effect and he threatened to add still more.

Global markets sank after Trump's 104% tariffs on Chinese goods took effect, with Beijing warning it was ready to defend its economic interests.