U.S. Treasury Secretary Scott Bessent said on Friday that Mexico has proposed matching U.S. tariffs on China in a move that he described as "very interesting" and one that Canada should match. Top Mexican officials have met with members of Trump's cabinet this week for trade talks ahead of a March 4 deadline,

US President Donald Trump threatened to double existing tariffs on China to 20% from next week, piling further pressure on the country’s beleaguered economy.

The U.S. next week will impose an additional 10% tariff on imports from China over its role in the fentanyl trade, the president said.