US Treasury Secretary Scott Bessent said Mexico has proposed matching Washington’s tariffs on China and urged Canada to do the same, signaling a potential path to avert levies on their own exports in the coming days.

As traders worldwide wait to see if U.S. President Donald Trump once again holds off on putting new tariffs on Canada and Mexico, the head of the U.S. Treasury Department has highlighted one potentially promising avenue for America’s neighbors.

Trump officials remain on course to hit Canada and Mexico with 25% tariffs on March 4, with a wave of other levies ready to roll.