Treasury Secretary Scott Bessent has expressed support for the idea of Mexico and Canada imposing tariffs on China to align with those imposed by the United States. In an interview, Bessent commended the Mexican government's proposal to match the US tariffs on China, suggesting that Canada should also consider doing the same. He referred to this potential collaboration as 'Fortress North America,' aimed at stemming the influx of Chinese imports.
Bessent highlighted that the United States Trade Representative's office is spearheading trade negotiations among the three countries. President Donald Trump recently announced plans to implement 25% tariffs on Mexico and Canada, a move that economists warn could trigger a recession in these economies. This development places pressure on Mexico and Canada to engage in negotiations with the Trump administration.
Reports indicate that Mexico is considering imposing tariffs on Chinese products such as cars, auto parts, and finished goods. Trump has justified the tariffs as a strategy to combat the flow of fentanyl into the US and address issues related to illegal immigration.
