It's the Brian Lairn Show on WNYC. I'm Bridget Bergen, senior reporter in the WNYC and Gothamus

Newsroom filling in for Brian today. President Trump has paused some of his latest proposed tariffs,

but one major levy remains firmly in place, a 125% tariff on goods from China, with at least

a temporary exception on cell phones and computers for now. And for New York City, that could all mean big trouble.

Wall Street is reeling. Small businesses are already feeling the sting of rising import costs.

And there are even some implications for tourism. As Greg David reports in his latest story for

the city, even with this so-called pause, the

tariff damage is not theoretical. It's already happening. We'll talk about what this trade

war could mean for the city and state budgets, for small businesses, trying to stay afloat, and for all

of us, living in a city that runs on finance, tourism, and trade. Greg David covers fiscal and economic issues for the

local news website, the city, and directs the business and economics reporting program and

the Ravage Fiscal Reporting Program at the Newmark Graduate School of Journalism. Greg, welcome

back to WNYC. Thank you. Always glad to be on. And listeners, we want to

hear from you, especially if you're a small business owner, a retailer, or someone who relies on

imported goods, international tourism, or the financial sector. How have you seen prices change,

rise, or shipments delayed? Are you unsure how to plan for the

next few months? Help us report the story. Call us at 212-433 W-N-YC. That's 212-433-9692. You can call or text at that number.

So, Greg, you have written that even with Trump's recent pause on some tariffs, the damage to New York City's economy may already be done. What are the

warning signs you're seeing right now? Well, there are lots of warning signs, and the most

important one is on Wall Street with these

incredible gyrations in the stock market. And the stock market is substantially down from earlier

this year when there are all these hopes about how great Trump was going to be for the economy

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