Nathan Hager

A blizzard on trade policy is underway after the Supreme Court's ruling against President Trump's emergency tariffs.

This morning, the president posted on Truth Social that he can impose duties in a much more powerful and obnoxious way.

He's starting with a 15 percent global rate under the Section 122 of the Trade Act.

Bloomberg's Brendan Murray has more.

In the meantime, Bloomberg's Brendan Murray reports the Trump administration is urging trade partners to stick to existing deals.

The European Union is not.

It is suspending ratification of its trade agreement with the U.S.

while it seeks more clarity on the new tariff program.

The European People's Party's lead trade negotiator told Bloomberg News they have no other option.

Then there are the negotiations between the US and Iran.

The State Department has ordered non-essential diplomats out of the embassy in Lebanon ahead of the latest talks in Geneva this Thursday.

The New York Times is reporting if diplomacy or an initial strike don't bring Iran closer to a nuclear deal...

President Trump could consider a much bigger attack in coming months aimed at regime change.

Bloomberg's Jumana Bersetchi has more from Dubai.

Bloomberg's Jumana Bersetchi reporting from Dubai.

And it all comes ahead of President Trump's first State of the Union address since his return to office.

That's set for tomorrow night at 9 p.m.

Wall Street time.

Our coverage begins at 8 on a special edition of Balance of Power with Joe Matthew and Kaylee Lines.

Catch it on Bloomberg Radio, Bloomberg Television, and at Bloomberg.com slash videos.