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This is the world in Brief from The Economist.

Our top stories.

Donald Trump delayed implementing tariffs on some imports from Canada and Mexico.

The reprieve, which lasts until April 2nd, applies to goods that fall under the American

Canada-Mexico deal. The president said that levies on aluminium and steel would continue as planned

next week and that he would not exempt carmakers from his April deadline. American stock indices fell on Thursday, even with Mr. Trump's

tariff reversals. The SMP 500 dropped by nearly 2%, and the tech-heavy NASDAQ closed down by 2.6%.

Earlier, at an event in New York, Scott Besant, America's Treasury Secretary, defended the

administration's use of tariffs, calling it the American First Trade Policy.

Most EU leaders meeting in Brussels agreed measures to increase defence spending. These reportedly include

a 150 billion euro or 162 billion dollar fund for loans to member states and a review

of the bloc's spending rules. Ukraine's president, Volodymy Zelensky, earlier thanked European leaders that had stayed

with his country. Norway's government announced 7.2 billion euros in aid for Ukraine this year,

more than double that originally planned.

The European Central Bank lowered interest rates by a quarter of a percentage point to 2.5%.

It was the bank's sixth cut since June.

The Eurozone's annual inflation rate was 2.4% in February, according to an initial estimate.

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