THURSDAY, APRIL 10, 2025
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Dear New Yorkers,
Even though stock markets rebounded on Wednesday as President Donald Trump paused his latest round of promised tariffs, the city’s economy is expected to take a beating.
According to experts on the local economy, the implications are almost impossible to overstate.
Higher prices, even from earlier tariffs and the 125% levy still in place for China, will strain budgets, especially for less well-off New Yorkers.
And despite Wednesday’s rally, the stock market remains well below where it was when Trump was inaugurated with key Wall Street businesses paralyzed by uncertainty.
An immediate worry: both the state and city budget are based on optimistic — and outdated — assumptions about the economy and tax revenues. And as the state budget is currently being negotiated in Albany, we’re running out of time to make changes.
Read more here about how to spot signs of a worsening economy.
Weather ☁️
Cloudy with highs in the low 50s, potential showers in the evening.
MTA 🚇
There’s no 6 train between Hunts Point Ave and 125 Street from 9:30 p.m. to 5 a.m. Find all the MTA’s planned changes and the latest delays here.
Alternate side parking 🚙
It’s in effect today, April 10.
By the way…
Yes, you (or your landlord) can actually get here.
Our Other Top Stories
- Students at Fordham University and New York University had their visas revoked in Trump’s widening crackdown on foreign students, among over 300 other students across the nation. Despite marketing itself “as the global university,” NYU’s president did not condemn the feds’ move.
- Cuts to the Federal Emergency Management Agency are threatening projects meant to protect against flooding from coastal storms across all five boroughs. The move threatens nearly $400 million in funds for New York State as part of a program FEMA called “wasteful and ineffective” — and that began during Trump’s first term.
- When Felisa Geddis first saw the man arrested for allegedly stabbing and killing her brother, she was relieved. She thought the case was “cut and dry.” But five years later, the case still hasn’t gone to trial, leaving the victim’s family in purgatory.
- On the latest episode of FAQ NYC, our hosts sit down with City Council Speaker Adrienne Adams. She discusses how the mayor’s cozying up to Trump pushed her to enter the race, why she’s optimistic about the city budget, her plans for a guaranteed minimum income for homeless families and more. Listen here.
Reporter’s Notebook
White House Demands End to N.Y. Environmental ‘Extortion’
President Donald Trump on Tuesday issued an executive order that takes aim at state programs meant to charge polluters in order to drive down greenhouse gas emissions and shore up funds to invest in climate projects.
Titled “PROTECTING AMERICAN ENERGY FROM STATE OVERREACH” and accusing New York of “extortion,” the order implicates the state’s cap and invest program, which would charge some entities for current emissions, with a declining cap to reduce carbon over time.
Trump directed the U.S. attorney general to identify state and local laws and policies that address climate change or involve environmental justice in order to stop their enforcement.
Both cap and invest and Superfund are facing legal challenges. Environmental groups this month sued New York to stop the Superfund law.
Gov. Kathy Hochul’s office did not respond to a request for comment.
— Samantha Maldonado
Things To Do
Here are some free and low-cost things to do around the city this week.
- Thursday, April 10: Hear from historian Seth Kamil in his talk “The Barbados – New York Connection: Enslavement and Exchange.” Van Cortlandt House Museum, The Bronx. 6 p.m.
- Thursday, April 10: Watch the iconic film about dueling Broadway divas: All About Eve. Kips Bay Library in Manhattan, 2 p.m.
- Friday, April 11: It’s not Earth Day yet but you can still show some love to your local trees. Learn how to cultivate, mulch and identify street trees with the Parks Department. Harlem, 9 a.m.
THE KICKER: On this day in 1691, New York’s elected Assembly met for the first time.
Thanks, as always, for reading. Make it a great Thursday.
Love,
THE CITY
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