Canada and Mexico can avoid tariffs before Saturday’s deadline, says Trump’s commerce pick
Canada and Mexico can avoid tariffs before Saturday’s deadline, says Trump’s commerce pick
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Howard Lutnick testified at his US Senate confirmation hearing for his nomination to head commerce department. Donald Trump’s nominee to run the commerce department, Howard Lutnick, said on Wednesday that Canada and Mexico can avoid looming US tariffs if they act swiftly to close their borders to fentanyl, while vowing to slow China’s advancement in artificial intelligence.
Lutnick, a billionaire Wall Street CEO, at his US Senate confirmation hearing said he has advised Trump to pursue across-the-board tariffs country-by-country to restore “reciprocity” to America’s trading relationships and said he would erect stronger curbs on China’s access to US technology, including advanced AI semiconductors.
Lutnick said Trump’s Saturday deadline for imposing 25% tariffs on goods from Canada and Mexico was meant to pressure the two countries to stop the flow of fentanyl into the US. The threatened duties are separate from the broad review of US tariffs, trade deals and other trade policy ordered by Trump when he took office last week.
“So this is a separate tariff to create action from Mexico and action from Canada,” Lutnick said of the 25% duty threat. “And as far as I know, they are acting swiftly, and if they execute it, there will be no tariff.”. Lutnick repeatedly called for a restoration of “reciprocity” on trade with other countries, which is in line with Trump’s vow to erect a universal tariff of 10% on all US imports. He also said he wanted to improve US access to Canada’s largely closed dairy market.
