Mexico is willing to raise tariffs on Chinese goods and find ways to buy more from the US in a bid to avoid duties threatened by President Donald Trump, according to people familiar with the matter.

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.

President Trump says he'll impose tariffs on Mexico and Canada on Tuesday. Mexico is working hard to persuade Trump to hold off on the threat.