US Treasury's Bessent says he is optimistic on trade deals with Canada, Mexico

Treasury ‌Secretary Scott Bessent ​said on Friday he believed the US would secure trade deals with Mexico ‌and Canada, a day after President Donald Trump threatened to double tariffs on Mexico over a migrant caravan.

"I am optimistic ‌that we can get trade deals with Canada and Mexico," ‌Bessent said in an interview with CNBC. The US treasury chief did not elaborate. Nor did he mention Trump's warning to Mexico on Thursday ⁠that ​he would ⁠double tariffs on the country if it did not stop more than 1,000 migrants ⁠walking north toward the United States.

The tariff threat came amid ​sensitive US trade negotiations with Mexico and Canada that have ⁠continued after Trump chose in July to not extend the US-Mexico-Canada trade ⁠pact. Trump ​was elected to a second term as president in 2024 in part over concern among US voters about ⁠the border. Since then, Trump has highlighted some migrant caravans but ⁠also said ⁠in recent months the issue has become less politically potent for him and his fellow Republicans.