Mexico and Canada avoided fresh tariffs on Wednesday with President Donald Trump exempting the United States' top trading partners from his new 10% global tariff baseline, although previous duties remain in place.

Canada and Mexico wouldn’t immediately be subject to the new tariff regime, senior administration officials told reporters Wednesday, but instead would still be subject to the tariffs Trump previously imposed,

Goods from Mexico and Canada are exempt from the newly-announced tariffs since they are already subject to other levies, a senior White House official said.