# September 17, 2026: Capacity Tariffs Delayed, Judge Orders Notice for Kennedy Center, More

An episode of [Bloomberg News Now](https://invisiblenetwork.ai/podcast/1701403307), 18 Sep 2026, 6:38.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d9566f78-0464-4367-9dcc-b05700aeec6f/f2ec325e-a861-4e5e-9c76-b4c90035b959/audio.mp3?utm_source=Podcast&in_playlist=7f880b3c-7f67-4b4b-b520-b05700af9172

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## Transcript

[0:01] Speaker 1: News when you want it. With Bloomberg News Now, I'm
[0:03] Speaker 1: Doug Krisner. The U.S. is expected to delay new tariffs
[0:07] Speaker 1: on trading partners who allegedly have excess manufacturing capacity. We
[0:12] Speaker 1: are told this postponement will happen at least until after
[0:15] Speaker 1: next week's planned summit between Presidents Xi Jinping and Donald Trump. Previously,
[0:20] Speaker 1: Bloomberg reported the administration had intended to release a trade
[0:24] Speaker 1: report on excess capacity before that meeting. This report would
[0:28] Speaker 1: recommend a tariff of 7.5% on Chinese goods. Now, these
[0:32] Speaker 1: new tariffs would be applied under the Trade Act of 1974,
[0:36] Speaker 1: unlike the previous IEPA tariffs struck down by the Supreme Court.
[0:41] Speaker 1: Here is Candy Wolf, head of global government affairs at Citi.
[0:45] Speaker 2: The administration put forward IEPA tariffs, tariffs based off of IEPA,
[0:50] Speaker 2: which is a national security statute. The courts said you
[0:53] Speaker 2: can't apply tariffs under IEPA. So the administration has said,
[0:57] Speaker 2: we still want to apply tariffs, so what is the
[1:00] Speaker 2: legal authority by which we can apply the tariffs? And
[1:04] Speaker 2: the legal authorities that they're using is Section 301 of
[1:07] Speaker 2: the U.S.
[1:07] Speaker 3: Trade Act.
[1:09] Speaker 2: And under Section 301, you have to find a finding
[1:13] Speaker 2: that there's unfair trade practices. In this case, excess capacity
[1:17] Speaker 2: is viewed as an unfair trade practice.
[1:19] Speaker 1: That is Candy Wolf from Citi. A federal judge in
[1:22] Speaker 1: Washington has ordered the board of the Kennedy Center to
[1:25] Speaker 1: provide more information about its recent decision to close the
[1:29] Speaker 1: performing arts venue, and the board must provide notifications about
[1:33] Speaker 1: any future demolition or broader renovations of the building. The
[1:37] Speaker 1: judge is also requiring a sworn declaration by September 23rd
[1:42] Speaker 1: from a knowledgeable representative of the Kennedy Center with regard
[1:45] Speaker 1: to closure and emergency repairs. And at the same time,
[1:49] Speaker 1: this judge denied a request from Democratic Representative Joyce Beatty
[1:53] Speaker 1: of Ohio. She claimed this week's closure violated a court
[1:57] Speaker 1: order issued in May, which blocked the Kennedy Center from
[2:00] Speaker 1: closing without further court review. Well, the mood in financial
[2:04] Speaker 1: markets today was optimistic as a drop in crude oil
[2:07] Speaker 1: prices suggested relief from inflation. And the second day story
[2:11] Speaker 1: of the Fed's rate hike focused on Chair Kevin Walsh's
[2:14] Speaker 1: improved credibility on bringing inflation down to target. And now
[2:18] Speaker 1: the market implied expectations show at least one more rate
[2:21] Speaker 1: hike this year and as many as two more in 2027.
[2:24] Speaker 1: Seema Shah is chief strategist at Principal Global Investors. She
[2:29] Speaker 1: points to a number of positives coming out of Fed
[2:31] Speaker 1: Chair Kevin Warsh's news conference yesterday.
[2:34] Speaker 4: This idea that he's taking away a dose of accommodation
[2:37] Speaker 4: certainly suggests that there's further to go. A continuation of
[2:41] Speaker 4: concerns about getting inflation back to target in a timely fashion,
[2:45] Speaker 4: timelier than I think what the dot plot was certainly suggesting.
[2:48] Speaker 4: So I think there are a few things in there
[2:49] Speaker 4: which at least gives the market a pathway. And to me,
[2:52] Speaker 4: that's one of the reasons why equity markets are up today,
[2:54] Speaker 4: is that they feel like they've got a little bit
[2:55] Speaker 4: of clarity. The uncertainty is behind us. We now have
[2:58] Speaker 4: something that we can work on.
[2:59] Speaker 1: Seema Shah from Principal Global Investors. Now, the equity market,
[3:03] Speaker 1: as she indicated, did advance today with the S &
[3:05] Speaker 1: P gaining more than 1.1%. Oil prices fell for a
[3:09] Speaker 1: second straight session. The market is now expecting Saudi Arabia
[3:12] Speaker 1: to soon restore some of its oil flows through its
[3:16] Speaker 1: damaged east-west pipeline. It was targeted last week in drone
[3:20] Speaker 1: strikes by Houthi militants in Yemen. Today, Reuters reported China
[3:24] Speaker 1: has asked Iran to help rein in the Houthis. WTI
[3:28] Speaker 1: crude was down 0.5% to $ 101. 91 the barrel. The Trump
[3:33] Speaker 1: administration has notified Congress of plans to sell up to
[3:37] Speaker 1: 48 F-35 warplanes to Saudi Arabia. This deal could be
[3:41] Speaker 1: worth as much as $ 24.
[3:42] Speaker 2: 3 billion.
[3:44] Speaker 1: The State Department says the sale will support the foreign
[3:47] Speaker 1: policy and national security objectives of the U.S. by improving
[3:51] Speaker 1: security of a major non-NATO ally. The first time sale
[3:55] Speaker 1: to Saudi Arabia has been in the works for a
[3:57] Speaker 1: number of years. The Trump administration will now allow the
[4:00] Speaker 1: core members of an Iranian delegation to travel to New
[4:04] Speaker 1: York next week for the U.N. General Assembly. This delegation
[4:08] Speaker 1: will face travel restrictions within the U.S. and it will
[4:11] Speaker 1: not be permitted to buy goods luxury, or other goods
[4:14] Speaker 1: in accordance with U.S. policy.
[4:16] Speaker 3: A U.S.
[4:17] Speaker 1: Airstrike on an Iranian school back in February may have
[4:20] Speaker 1: been a war crime. The New York Times reports a U.N.
[4:24] Speaker 1: investigator said there were mistakes that led to the deaths
[4:27] Speaker 1: of more than 100 children that went beyond intelligence. Earlier
[4:32] Speaker 1: this week, the Supreme Court rejected President Trump's efforts to
[4:36] Speaker 1: curb mail-in voting, and now the Postmaster General says The
[4:39] Speaker 1: USPS has stopped work on developing a controversial computer system
[4:44] Speaker 1: that was central to limiting mail-in ballots. The Postal Service
[4:48] Speaker 1: was essentially being forced to become arbiter of who is
[4:52] Speaker 1: eligible to vote just months before this year's critical midterm elections.
[4:57] Speaker 1: The merger of Paramount's Guidance and Warner Brothers Discovery is
[5:00] Speaker 1: being held up by just one lawsuit. It was filed
[5:04] Speaker 1: by California Attorney General Rob Bonta. He says he's protecting
[5:08] Speaker 1: competition and consumers, and Bonta says the merger will harm
[5:12] Speaker 1: a free and fair market.
[5:14] Speaker 3: A study in L.A. County just showed the merger will
[5:16] Speaker 3: create thousands of jobs lost, 5,000 to 10,000. It'll create
[5:22] Speaker 3: about a $ 3 billion loss in economic activity. So the
[5:25] Speaker 3: merger is what we are. trying to block because of
[5:28] Speaker 3: the harm it will create. And so we're trying to
[5:30] Speaker 3: make sure there's fair prices for consumers who pay for satellite,
[5:32] Speaker 3: pay for cable, who want to go to the movies,
[5:34] Speaker 3: make sure we have a free and fair market where
[5:35] Speaker 3: there's choice, quality, competition.
[5:37] Speaker 1: That was California Attorney General Rob Bonta speaking to Bloomberg.
[5:41] Speaker 1: Court-ordered settlement talks between Paramount, Skydance, and Bonta are scheduled
[5:45] Speaker 1: for October 14th and 15th. Titans of the AI industry
[5:49] Speaker 1: gathered in Scotland to hear the call from King Charles
[5:52] Speaker 1: III to control the risks of AI. The king asked
[5:56] Speaker 1: how the benefits of AI can be harnessed with safety
[6:00] Speaker 1: at its heart. NVIDIA CEO Jensen Huang was at the event.
[6:04] Speaker 5: As we move from labs to product development, the companies
[6:08] Speaker 5: have to become much more rigorous in testing and securing
[6:13] Speaker 5: and making sure that the products are ready for use
[6:16] Speaker 5: before it's released. And in doing so, if it's not ready,
[6:22] Speaker 5: just hold it back. You should go as fast as
[6:24] Speaker 5: you can, but no faster than that.
[6:26] Speaker 1: That was NVIDIA CEO Jensen Huang. And that is news
[6:30] Speaker 1: when you want it. With Bloomberg News Now, I'm Doug Kristner,
[6:32] Speaker 1: and this is Bloomberg.

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