Two days before the Trump administration was set to double its 10 percent additional tariffs on Chinese imports, US Treasury Secretary Scott Bessent said China will "eat any tariffs that go on", indicating that increased taxes will force cost pass-through onto producers outside the United States.

U.S. Treasury Secretary Scott Bessent traded policy complaints with Chinese Vice Premier He Lifeng on Friday, with Bessent telling Beijing to do more to curb fentanyl trafficking and rebalance its economy, and He voicing concerns about President Donald Trump’s new tariffs, the two governments said.

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,