President Donald Trump on Thursday exempted goods from both Canada and Mexico under a North American trade pact for a month from the 25% tariffs that he had imposed earlier this week, the latest twist in fast-shifting trade policy that has whipsawed financial markets and business leaders.

All USMCA-compliant goods, which includes textiles and apparel, will be exempt from the tariff hike imposed on Canada and Mexico for at least a month, according to Washington.