Commerce Chief: Prices May Rise Short-Term Amid Tariffs

U.S. Commerce Secretary Howard Lutnick said prices could rise in the aftermath of tariffs imposed overnight on goods from China, Canada and Mexico, but that the tariffs could be removed if the countries could show progress on stopping the flow of fentanyl.

"There may well be short-term price movements, but in the long-term, it's going to be completely different," Lutnick told CNBC in an interview Tuesday.