President Donald Trump's nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that he has advised Trump to impose across-the-board tariffs country-by-country to restore trade reciprocity and fairness.

Howard Lutnick, CEO of Wall Street brokerage firm Cantor Fitzgerald, did not address policy specifics in his written testimony for the Senate Commerce Committee seen by Reuters. A

Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention remained on tariffs threatened by U.S. President Donald Trump on Mexico and Canada,

TORONTO — Roughly $900 billion in annual trade between Canada and the United States — and with it, traditionally chummy bilateral ties — is on the brink of upheaval, with President Donald Trump threatening to impose sweeping tariffs on Canada as early as this weekend.

Trump has said he is considering imposing 25% tariffs on both countries by 1 February. He has previously tied the tariffs threat to ending illegal migration and drugs crossing into the US through its southern and northern borders.