The proposed taxes would raise the cost of doing business, experts say, and freeports may benefit. Galleries are bracing themselves.

US President Donald Trump backed away from his latest threats to start a trade war with America’s neighbors. The Republican agreed to delay for one month his threatened tariffs against Mexico and Canada after speaking with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.

President Trump’s on-again, off-again tariffs briefly hit the market on Monday, before fear evaporated. What it shows: Investors are convinced he will use tariffs to extract concessions on other issues,