Trump Rejects Deal to Reopen Hormuz, East Coast Nor’easter, More
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What is the opening overview of Bloomberg News and today’s headline topics?
Hi, I'm David Weston. Join me every week for the Wall Street Week Podcast to hear stories of capitalism from around the world. From geopolitical tensions and central bank decisions to artificial intelligence, energy, and infrastructure, we sit down with the CEOs, economists, policymakers, and thought leaders whose decisions are shaping markets everywhere we find them. Subscribe to the Wall Street Week Podcast on Apple, Spotify. Five or anywhere you listen.
News when you want it. With Bloomberg News Now, I'm Ed Kalegi. President Trump said Saturday he rejected a deal from Iran to reopen the street of Hormuz as Saudi Arabia's capital came under attack from Yemen's Houthis over the weekend.
But uh I'm not that deal would not be acceptable.
The president said this to reporters as he departed the White House Saturday, adding that the U.S. naval blockade in the Strait of Hormuz is putting increasing economic pressure on Iran.
Why did President Trump reject Iran’s offer to reopen the Strait of Hormuz?
It's a wall of steel. I would put it up And guess what? They don't have any money now because they wanted to close the strait and I said that's fine. We're gonna close it on you, but everybody else is able to use it.
US and Iranian negotiators had been exploring a deal that would see Tehran reopen the Strait of Hormuz and Washington lift its blockade of Iranian ports. The pact would have been similar to the memorandum of understanding the two countries reached in mid-June. Which led to a fragile ceasefire that collapsed weeks later. Hundreds of flights have been grounded and thousands don't have power as a powerful nor'easter continues to make its way up the east coast. Bloomberg meteorologist Craig Allen is tracking it.
Potential landfall will be along the New Jersey shore, New York City, or Long Island before stalling and then looping back out to sea. Now this could take another 48 hours, and this means a prolonged period of very strong winds, heavy rain, and damaging surf, comparable to a tropical sea.
How did the failed Hormuz deal affect U.S.–Iran negotiations and regional stability?
Storm. Bloomberg Meteorologist Craig Allen, New York and New Jersey have declared states of emergency with storm surges expected to raise ocean levels by three feet. The Trump administration is planning to release new fuel efficiency mandates on Monday that would ease more stringent rules implemented under President Joe Biden. Trump pitched the changes as a way to boost the domestic auto industry and lower consumer costs. The President said in a social media post Saturday, these new standards will take the waste out of building cars in America. That means lower prices. Saving families thousands on a new beautiful and safe car, far better than the environmental monsters that we were building heretofore.
Trump, who was struggling in the polls ahead of the November midterms, has been under fire for not doing more to address concerns about rising prices for consumer goods, particularly as oil prices remain persistently high. President Trump will hold a pair of rallies next week as polls flash warning signs for the GOP. Bloomberg's Karen Moscow has more.
The President will hold the first event on Thursday in Durant, Oklahoma, near the Texas border, and another Friday in Mobile, Alabama. The president has pledged a campaign ahead of the November midterm elections that'll decide control of Congress.
What is the projected path and impact of the East Coast nor’easter?
Trump's involvement also comes as voter surveys show his approval rating at or near all time lows. And as some prominent Republican lawmakers begin to publicly break away from him over various issues, Democrats need to flip four seats in the Senate to take a majority.
The AI discussion will continue in Washington this week after talks behind closed doors with China's president. Bloomberg's Nathan Hager has more from Washington.
A source familiar with the plans tells Bloomberg government, President Trump and House Speaker Mike Johnson will meet with tech CEOs this week on AI. That's after a veritable who's who of tech. From invidious Jensen Wong to open AI's Sam Altman joined the president at the White House State Dinner for Xi Jinping. Speaker Johnson sent lawmakers back to their districts last week, even though leading Democrats urged him to keep them on Capitol Hill to work on AI policy.
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Chapters
7 chapters
1
What is the opening overview of Bloomberg News and today’s headline topics?
0:00–1:03
2
Why did President Trump reject Iran’s offer to reopen the Strait of Hormuz?
1:03–2:04
3
How did the failed Hormuz deal affect U.S.–Iran negotiations and regional stability?
2:04–3:18
4
What is the projected path and impact of the East Coast nor’easter?
3:18–4:21
5
How will Trump’s new fuel‑efficiency standards affect auto prices and the industry?
4:21–5:23
6
Which tech leaders are meeting the White House on AI policy and why does it matter?
5:23–6:26
7
What strategies is McDonald’s using to win back cost‑conscious diners?
6:26–7:11
Speakers
9 identifiedMore from Bloomberg News Now
Trump Rejects Iran Proposal, Nor’easter Along East Coast, More
September 25, 2026: CNN Barred from Trump Trip, WSJ: Trump Rejects 7 Day Ceasefire, More
Iran Makes 7-Day Hormuz Offer, Trump-Xi Summit, More
7 Day Ceasefire Iran Offer, Trump-Xi AI Rivalry, More
September 24, 2026: Trump and Xi Spotlight AI, Xi Presses Trump on Taiwan, More
Trump and Xi Tackle AI, Xi Taiwan Independence Warning, More