Mexican President Claudia Sheinbaum said on Monday that tariffs with the United States are on hold for a month after a conversation with President Donald Trump in which she committed to putting more law enforcement on the U.S. border to stop the flow of drugs, Reuters reported. "Our teams will start working today in two areas: security and commerce," Sheinbaum wrote in a post on X that announced the pause in tariffs. Trump ordered the 25% tariffs on all Mexican goods over the weekend, with Mexico saying it would respond with tariffs of its own without detailing on what products.

Canadian manufacturing activity increased at a slower pace in January as looming U.S. trade tariffs reduced confidence in the outlook, even as moves by clients to get ahead of the taxes led to the first increase in export orders in 17 months, Reuters reported. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) fell to 51.6 in January from 52.2 in December. Still, it was the fifth straight month above the 50.0 no-change mark. A reading above 50 indicates expansion in the sector. U.S.

Northvolt AB’s appointed bankruptcy lawyers in the U.S. have sent a letter to creditors in Sweden threatening legal action if they don’t return to the company funds seized by the country’s Enforcement Authority, according to Bloomberg News reported. The steps to recover claims “violate United States federal law and an order from the US Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper Dagens Industri.

El Salvador’s dollar bonds rose the most in emerging markets Thursday after lawmakers approved changes to the nation’s Bitcoin law that were needed to secure an International Monetary Fund loan, Bloomberg News reported. Government debt gained across the curve, with notes due in 2054 rising 2.7 cents on the dollar to 107 cents, according to indicative pricing data compiled by Bloomberg. The jump signaled investor optimism that the Central American country is close to cinching the $1.4 billion deal with the IMF.

The Canadian economy gained strength at the end of last year, fueled by a rapid series of interest-rate cuts, as the northern nation braces for the Trump administration’s threatened 25% tariffs, Bloomberg News reported. Advance data suggested gross domestic product grew 0.2% in December, Statistics Canada said Friday. That’s a reversal from a 0.2% decline in November, the largest monthly contraction since December 2023 and weaker than a median estimate of a 0.1% drop from economists in a Bloomberg survey.

A top executive of troubled Indian tech firm Byju’s and an ally of the company’s founder were found in contempt of court and now face financial sanctions of $25,000 a day for refusing to comply with a U.S. court order, a judge ruled yesterday. Byju’s manager Vinay Ravindra and company ally Rajendran Vellapalath failed to answer questions about their roles in stripping software, cash and other assets from Byju’s U.S. businesses that are under court supervision, a federal judge in Delaware found.

The Bank of Canada on Wednesday cut its benchmark rate for a sixth straight time, and warned of a significant shock to the economy from a U.S.-Canada trade conflict with tariffs of up to 25%, the Wall Street Journal reported. Bank of Canada Gov. Tiff Macklem said the central bank would be limited in offsetting the damage from a trade row, because policymakers would have to wrestle with both weaker growth and higher prices. The central bank sets interest rates to achieve and maintain 2% inflation.

The Canadian government said Friday it would provide extraordinary financing to Canada Post to avoid insolvency at the state-owned mail service, the Wall Street Journal reported. The bridge financing totals 1.03 billion Canadian dollars, or the equivalent of $720 million, and will be provided on an as-needed basis to pay obligations. The government said Canada Post will fall below its necessary operating cash requirements this year. “Providing this cash injection will prevent insolvency and ensure the continuity of postal services,” the government said.

A creditor to an overseas arm of China’s largest construction company is asking a U.S. bankruptcy court to help investigate whether the firm may have committed fraud, Bloomberg News reported. China Construction America Inc. filed for chapter 11 in New Jersey last month. The company is a subsidiary of state-owned China State Construction Engineering Corp. The largest unsecured creditor of the case, BML Properties Ltd., wants the court to appoint an examiner to look for potential fraud and misconduct, according to a motion filed on Thursday.