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,

President Donald Trump's pick to lead the Commerce Department has told US lawmakers that Canada and Mexico can avoid blanket tariffs if they close their borders to fentanyl. "As far as I know, they are acting swiftly, and if they execute it, there will be no tariff," Howard Lutnick said on Wednesday during a confirmation hearing before senators.

Leavitt told reporters in her first White House press briefing that Trump also is still "very much" considering fresh tariffs on China for Saturday. Shortly after taking office last week, Trump set a Feb.

U.S. President Donald Trump plans to impose tariffs on imported computer chips, pharmaceuticals and steel, he said on Monday, to push companies to manufacture more in the United States. The comments mark the latest in a number of trade-related threats unleashed by Trump in recent days.

Semiconductor business between Taiwan and the United States is a "win-win" model for both sides given the high level of complementarity, the island's economy ministry said on Tuesday responding to tariff threats from U.

If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.