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,

Billionaire businessman Howard Lutnick got a step closer to potentially serving as the next Commerce secretary after largely sailing through his confirmation hearing Wednesday before a U.S. Senate panel.

Howard Lutnick, the financier President Trump has picked to lead the Commerce Department, said he favored “across-the-board” tariffs and was grilled about his financial ties in a nomination hearing Wednesday.