Secretary of Commerce-designate Howard Lutnick told a Senate committee that the threat of imposing a 25% tariff was to get Canada and Mexico to “respect” the United States and stop the flow of fentanyl into the country.

President Donald Trump's nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that Canada and Mexico can avoid looming U.S. tariffs if they act swiftly to close their borders to fentanyl,

He noted those tariffs were separate from a broad effort by the Commerce Department, the U.S. Trade Representative’s office and the Treasury Department to review trade relations and tariffs by April 1.

Billionaire financier Howard Lutnick, President Donald Trump’s choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days.

President Donald Trump's commerce secretary nominee Howard Lutnick said at his U.S. Senate confirmation hearing on Wednesday (January 29) that Canada and Mexico can avoid looming tariffs if they act swiftly stop the flow of fentanyl into the U.

Speaking from the Oval Office, Trump justified the tariffs as a response to what he described as excessive migration, drug trafficking, and unfair trade practices. While he suggested the tariff rate could rise further,

The billionaire Wall Street CEO fielded questions about tariffs, China's AI progress, broadband access, allegiance to Trump and the revival of American mining and semiconductor production.