The pauses—which allow a period of negotiations over drug trafficking and border security—provide a cool-down period after a tumultuous few days that put North America on the cusp of a trade war.

Last-minute phone calls pull the North American neighbours back from the brink of a trade war, but the US is still targeting Chinese imports.

Oil prices retreated on Tuesday as U.S. President Donald Trump paused for a month a decision on steep tariffs on Mexico and Canada, the United States' biggest foreign oil suppliers, while prospects of higher OPEC+ supplies from April also weighed.