Howard Lutnick, chairman and CEO of investment firms Cantor Fitzgerald and BGC Group, told the U.S. Senate Committee on Commerce, Science and Transportation that he would divest “all of my interests, my business interests, all of my assets, everything.”

Mexico's president on Wednesday said her nation is in dialogue with the White House and was confident that the 25% tariff isn't imminent.

The U.S. government has stated that Canada and Mexico could still avoid hefty tariffs if they take action to curb fentanyl trafficking at their borders while also committing to slowing China’s advancements in artificial intelligence.

Secretary of Commerce-designate Howard Lutnick told a Senate committee that the threat of imposing a 25% tariff was to get

President Trump has threatened to impose tariffs on Canada over drug trafficking, equating it with Mexico. U.S. government reports do not support the claim.

WASHINGTON—Howard Lutnick’s journey from Wall Street veteran to one of President Trump’s most hawkish trade advisers began with a speech at an October campaign rally at Madison Square Garden. Lutnick extolled the virtues of tariffs and argued that the duties could at least in part replace the U.

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.

Since his re-election in November, Trump has repeatedly said he would hit Canada and others with tariffs of up to 25 per cent. On his first day back in the Oval Office, Trump suggested tariffs on Canadian goods could be coming on Saturday.

Oil was little changed as investors speculated on the likelihood of tariffs from the Trump administration.Most Read from BloombergManhattan’s Morning Commute Time Drops With New Congestion TollTrump's

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.

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.

Howard Lutnick said tariffs are essential for supporting U.S.-based manufacturing and won't trigger inflation while undergoing a Senate confirmation hearing on Wednesday.