Asia-Pacific markets rise on Tuesday as concerns about a potential trade war eased after U.S. President Donald Trump delayed tariffs on Canada and Mexico for a month. Late on Monday, President Donald Trump agreed to “immediately pause” tariffs on Mexico and Canada for a month following successful negotiations with their respective leaders.

Asian stocks reliant on exports, ranging from Japanese carmakers to Chinese e-commerce firms, nosedived after US President Donald Trump unleashed his first wave of tariffs, signaling the beginning of a new round of global trade war.

Shares of Japanese and South Korean car makers and their suppliers led declines in Asia on Monday, as exporters across the region were walloped by U.S. President Donald Trump's introduction of sweeping tariffs on Mexico,