Bloomberg News Now October 28, 2025: Trump-Xi Talks Expectations, Hurricane Melissa Downgraded, More
Oct 29, 2025
Tension rises as Trump gears up for a crucial meeting with Xi, with tariff reductions and chip access on the agenda. Hurricane Melissa wreaks havoc in the Caribbean, threatening floods and landslides across multiple regions. A looming U.S. government shutdown raises concerns about SNAP benefits running dry. Meanwhile, Israeli military actions escalate against Hamas, while the Fed hints at potential rate cuts driven by softening job data. Plus, big tech earnings are on the horizon, while the Blue Jays battle for World Series glory!
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Tariff Cuts And Chip Access On The Table
- President Trump expects to negotiate lower U.S. tariffs on Chinese goods tied to China's role in the fentanyl crisis.
- He also signaled openness to offering NVIDIA Blackwell AI chips access as part of a trade deal with China.
Melissa's Deadly Path And Ongoing Risks
- Hurricane Melissa made landfall in Jamaica with 185 mph winds, the strongest storm recorded to hit the country.
- The storm was downgraded to Category 3 but posed catastrophic flood and landslide risks for Haiti, the Dominican Republic, and eastern Cuba.
Shutdown Hits Benefits And Federal Jobs
- The U.S. government shutdown reached four weeks, threatening SNAP benefits and federal worker layoffs.
- A federal judge blocked new layoff notices, pausing planned firings during the shutdown.