Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, offered a detailed defense of tariffs in his confirmation hearing, the clearest signal yet from a cabinet pick that the new administration is prepared to impose the levies on allies and adversaries alike.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas, particularly in U.S.-ally Taiwan.

President Trump on Thursday said he plans to follow through on Saturday on his threat to impose 25 percent tariffs on goods from Mexico and Canada. “We’ll be announcing the tariffs on Canada and Mexico for a number of reasons,

U.S. President Donald Trump said he would follow through on his threat to put 25% tariffs on Canada and Mexico on February 1, Bloomberg reported on Thursday, citing comments made by him to reporters in the Oval Office.