North America came within hours of a multibillion dollar trade war that was poised to hobble the economies of Mexico and Canada.

The Times journalists Ana Swanson, Matina Stevis-Gridneff and Simon Romero discuss the last-minute negotiations that headed off the crisis — for now.

Guests: Ana Swanson, who covers trade and international economics for The New York Times; Matina Stevis-Gridneff, the Canada bureau chief for The New York Times; and Simon Romero, an international correspondent for The New York Times based in Mexico City.

Background reading:

President Trump agreed to delay tariffs on Mexico and Canada for a month after both countries pledged to do more to block drugs and migrants.
What does Mr. Trump really want from Canada and Mexico?

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

Photo: Jeff Kowalsky/Agence France-Presse — Getty Images

Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.

Episode 1: Sponsorships, COVID-19 and Force Majeure