US President Donald Trump has paused plans to impose 25 per cent tariffs on Canada and Mexico after an agreement on border security was reached between the countries.

The US will continue to impose a 10 per cent levy on Chinese import, which has resulted in China retaliating with a 15 per cent tariff on some US imports.

Oliver Peterson spoke with AMP Chief Economist Shane Oliver who says “its disappointing we’ve gone back to era that was somewhat more negative.”