Mexico's top economy officials on Tuesday downplayed concerns about trade talks with Donald Trump's administration, saying the potential impact on American companies could give the incoming U.S. president second thoughts about levying massive tariffs.

For decades, the Southeast Asian nation has opened its doors to major firms like Apple, Samsung and Intel. Now it’s poised to do even bigger business.

Donald Trump has threatened new, higher tariffs on two of California’s biggest trade partners, China and Mexico. The state’s workers and economy could feel the most impact.

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to 1 percentage point.

He thinks Trump is serious about his campaign promise to impose tariffs of 60% on all Chinese goods. American businesses are dusting off a playbook they used during Trump’s first term: stocking up on imported goods before tariffs are enacted.

Trump, who is due to take office in January, pledged during campaigning to slap hefty tariffs on Chinese imports, causing unease in Beijing and heightening growth risks for China.

The United States, under President Donald Trump may put roughly 40% tariffs on Chinese imports early next year, a poll by news agency Reuters has revealed. According to the agency report, the tariff hike could cut growth in the second-largest economy in the world by as much as 1%.