Mexican Cartel Kingpin Killed, Northeast Winter Storm, More
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News when you want it with Bloomberg News Now, I'm Doug Krisner. We begin in Mexico, where a top cartel leader known as El Mencho was killed during a raid carried out by Mexican authorities in the western state of Jalisco. The Jalisco cartel is known for trafficking huge quantities of fentanyl and other drugs to the U.S., and the killing of the cartel leader fueled clashes and roadblocks. The governor of Jalisco activated a Code Red, which is a protocol for a state of emergency or security crises. Now, the U.S. Embassy in Mexico issued a security alert urging Americans in the affected areas to shelter in place until further notice. More than 35 million people across the Northeast, that would include New York City, are under a blizzard warning.
A massive winter storm is threatening snow by the foot and wind gust of nearly 50 miles an hour. Here is Bloomberg meteorologist Rob Carolin.
Heavy snow is ramping up over the Delmarva Peninsula and that'll be spreading north and east into portions of New York later tonight into Boston during the early morning hours of Monday. Blizzard warnings remain in effect from the Delmarva Peninsula through the New York City area and up across southern New England. We'll be dealing with heavy snow across the New York City area overnight and into the day on Monday. In the Boston area, it's from Monday morning into the afternoon hours. We'll see anywhere from 10 to 16 inches of snow across the New York City area with as much as 18 inches over Long Island, 12 to 18 inches possible in the Boston area with higher amounts possible across southeastern Massachusetts.
The other problem with this developing storm will be wind. Very strong winds are likely from eastern Maryland and Delaware across the Jersey Shore, up across Long Island and into southern New England. The New York City area will see gusts in excess of 40 miles an hour. Southeastern New England could see gusts in excess of 65 and 70 miles an hour, and that's certainly going to cause power issues with all that heavy wet snow.
I'm Rob Carolin, Bloomberg Radio. Markets in Asia are reacting to the Supreme Court striking down President Trump's use of emergency power to impose tariffs. The president responded to this defeat by using other powers to impose a global tariff of 15%. These tariffs, however, are limited to 150 days. Here is U.S. Treasury Secretary Scott Besson speaking on CNN's State of the Union.
The president, the administration remains undeterred in reshoring American factories and getting rid of these massive trade imbalances. That's the big story here, is that we are immediately going to go to Section 122 tariffs, that the revenue for the U.S. Treasury for 2026, the projections are unchanged.
At the same time, the Trump administration says the trade deals made with China, the EU, Japan, and South Korea remain in place.
What happened to the Mexican cartel leader El Mencho?
Here is U.S. Trade Rep. Jameson Greer speaking on CBS Face the Nation.
The deals were not premised on whether or not the emergency tariff litigation would rise or fall. They weren't premised on that. So it's totally normal for these countries to talk to each other, have meetings internally to determine this. But rest assured, I've been speaking to these folks as well. And I've been telling them for a year, whether this case, whether we won or lost, we were going to have tariffs. The president's policy was going to continue. That's why they signed these deals, even while the litigation was pending.
What is the impact of El Mencho's death on the Jalisco cartel?
That's U.S. Trade Rep. Jameson Greer on CBS Face the Nation. Now, the Supreme Court was silent in its decision on the topic of refunds of levies already paid. Lower courts have been left to sort out those issues. The U.S.
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