Blizzard Disrupts Travel, Global Trade Confusion Returns, More
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What is the main topic discussed in this episode?
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What impact is the snowstorm having on travel in the Northeast?
I'm Karen Moscow. We begin with the powerful snowstorm that's pounding the northeast and Bloomberg meteorologist Rob Carolyn is tracking it. Rob, what's the latest?
Heavy snow will continue to affect the northeastern United States as low pressure continues to intensify rapidly south of Rhode Island. This system will move southeast of Nantucket later today. Blizzard warnings remain in effect from the New York City area all the way on up into eastern New England. We've already seen some places receive over a foot of snow. We've also seen some coastal locations from Cape Cod to Long Island gust over 60 miles an hour. That's going to produce near zero visibility, and it looks like the storm will slowly wind down as we head into the afternoon and evening hours of tonight. I'm Rob Carroll in Bloomberg Radio.
How is the blizzard affecting New York City's emergency response?
All right, Rob, thank you. Well, the storm is already having a major impact in New York City and in the skies across the East Coast. And Bloomberg's John Tucker joins us with that angle. John.
Blizzard of 26 has pushed the region into a state of emergency. It's already a second major storm to test the newly minted mayor, Zoran Mamdani.
New Yorkers can expect that Monday morning commute will be extremely hazardous, with heavy snowfall and peak winds coinciding to create slippery conditions and greatly reduced visibility.
Mamdani announcing highways, bridges, and streets into New York are closed until noon today. The only ones happy about this, school kids. Mamdani called one kid yesterday to break the news.
Hi, Victoria. Hi. So I thought as the mayor, I wanted to call you and give you some news. We've got a full snow day tomorrow. No online school. Yes. No remote learning. Full classic snow day.
It's a scream of joy, by the way. The subway system operating with local service while Metro North Railroad running on a weekend schedule. The service on the Long Island Railroad, that's suspended. New Jersey Transit, train, bus, light rail, and access link service suspended. 105,000 customers without power in New Jersey. Another 18,000 on Long Island, according to PowerOutage.com. And over 10,000 flights into and around the U.S.
What are the implications of the Supreme Court ruling on trade policy?
canceled through tomorrow morning. most of them originating or terminating in New York, Boston, and Philadelphia. In New York, I'm John Tucker, Bloomberg Radio.
All right, John, thank you. Well, we turn to news out of Washington now, where President Trump's trade policy has been upended by the Supreme Court. The White House is telling global partners to stick to their trade deals struck in recent months, despite the Supreme Court ruling. Treasury Secretary Scott Besson said the president will be able to keep revenues flowing through a 15 percent global tariff under Section 122 of the Trade Act.
We've been in contact with our foreign trading partners, and they like the tariff deals, so they're not going to be changed. And the president remains undeterred in his determination to lower our trade deficit and bring manufacturing back to the U.S.
Treasury Secretary Besant was on Fox Sunday Morning Future. Section 122 allows presidents to impose tariffs for up to 150 days to address, quote, large and serious U.S. balance of payments deficits. Many economists say the U.S. does not face that issue. Europe is also weighing in on the tariff ruling. The EU now freezing approval of its trade deal with the U.S. India is doing the same. ECB President Christine Lagarde says it's important to have clarity.
It's a bit like driving. You want to know the rules of the road before you get in the car.
How is the U.S. addressing its trade deficit with global tariffs?
It's the same with trade.
Christine Lagarde appeared on CBS's Face the Nation, heard Sundays on Bloomberg Radio.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:32
2
What impact is the snowstorm having on travel in the Northeast?
0:32–1:13
3
How is the blizzard affecting New York City's emergency response?
1:13–2:33
4
What are the implications of the Supreme Court ruling on trade policy?
2:33–3:57
5
How is the U.S. addressing its trade deficit with global tariffs?
3:57–5:37
6
What are the latest developments in U.S.-Iran nuclear talks?
5:37–6:51
7
How is the military situation in the Middle East evolving?
6:51–7:52
8
What recent corporate acquisitions are making headlines?
7:52–8:42
Speakers
10 identifiedMore from Bloomberg News Now
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