President Donald Trump has temporarily suspended stiff new tariffs on Canada and Mexico, easing the fears of homebuilders who had warned the measures could raise the cost of key building materials used in home construction.

Mexico and Canada on Monday reached separate agreements with President Trump to pause tariffs for 30-days, staving off a U.S. trade war with those countries for the time being.Over the weekend, the Trump administration had said it would levy 25% import tariffs on goods from the two countries,