Trump to Repeal Landmark Climate Finding

Summary

---

Episode Overview

Podcast: WSJ What’s News
Air Date: February 10, 2026
Episode Title: Trump to Repeal Landmark Climate Finding
Hosts/Contributors: Luke Vargas, Miriam Gottfried, Yousef Khan, Peter Lander, Samantha Pearson

This episode spotlights the Trump administration's plan to reverse a foundational climate regulation, examines escalating US-Canada bridge tensions, unpacks Israel's expansion of powers in the West Bank, discusses China’s currency ambitions, and scrutinizes new turmoil around Argentina’s inflation data.

---

Key Discussion Points & Insights

1. Trump Administration Moves to Undo Landmark Climate Finding

• News: The administration readies a move to reverse a 2009 legal finding that links greenhouse gas emissions to public health risks. This would severely undermine current frameworks regulating emissions from power plants and vehicles.
• Claimed Rationale: Officials assert this will save a “trillion dollars” in regulatory costs.
• Business Impact:
  • Creates confusion for US businesses operating internationally.
  • Companies face diverging standards: US rollbacks vs. tough global (notably EU) regulations (01:30).
• Quote:

  “This is going to be a really big deal for companies operating globally... we’re seeing climate regulations within places like California and New York. Say for a company operating in Europe... you’ve got an obligation to bring down your emissions and report your emissions; on the other side, we might see the rollback of those sorts of regulations and the idea that you can continue to pollute.”
  — Yousef Khan (01:30)

• Legal Outlook: Expect “years” of court battles before definitive resolution (01:53).

---

2. US-Canada Bridge Dispute

• Situation: President Trump threatens to prevent a new bridge from opening between Detroit and Windsor, despite near-completion and Canadian funding.
• Trump’s Stance: Asserts that the US should own half, accuses Canada of disrespectful behavior, contrasting previous US support and financial arrangement (02:00).
• Reactions:
  • Windsor’s mayor calls Trump’s move “insane” on CBC News (02:34).
  • Miriam Gottfried notes the contradiction in Trump’s simultaneous criticism of Canadian decisions that block US alcohol and refusal to open a facility aiding bilateral trade (02:34).
• Quote:

  “Canada paid for the construction of the bridge. The US didn’t want to pay, Canada said…we think it’s important. We’re going to fund it to help facilitate international trade.”
  — Miriam Gottfried (02:34)

---

3. Israel Expands Control in the West Bank

• Actions Taken: Israel’s cabinet repeals restrictions on selling West Bank land to outsiders, publishes sealed land registries, and takes regulatory powers from the Palestinian Authority.
• Geopolitical Context:
  • Move occurs ahead of a Netanyahu-Trump meeting in Washington.
  • Draws criticism from several Arab governments and the EU (03:30).
• Significance: Deepens West Bank integration, ignites international concern.

---

4. China Eyes Dollar Alternatives—Yuan's Rising Role

• Trend: Ongoing global speculation about “de-dollarization” and China's efforts to bolster the yuan’s standing in international trade.
• Market Impact: Some measured strengthening in the yuan, but still within normal historical ranges (04:07).
• Quote:

  “For most international transactions today the dollar is used… If China seems to be using the dollar less or Treasuries are being sold, it could cause the dollar to weaken and the yuan to strengthen… But it’s the speculation that a more radical shift could be in the offing [that] is behind some of the market trades.”
  — Peter Lander (04:07)

• Limits to Change:
  • The yuan is not freely traded.
  • China remains heavily invested in US Treasuries—substantial shifts away from the dollar are unlikely in the near term.
  • Some room exists for the renminbi to expand its role “at the edges” (04:46).

---

5. US Labor Market—Jobs Report Preview

• Context: Anticipation for delayed jobs numbers amid sluggish employment growth; surveys show widespread pessimism about job prospects (05:12).
• Engagement: Listeners invited to share their employment stories and questions for future episodes (05:15).

---

6. Argentina’s Inflation Data Under Scrutiny

• Backdrop: After years of crisis, President Javier Milei made significant progress lowering triple-digit inflation. However, controversy has erupted following the resignation of the national statistics agency head (07:22).
• Data Trust Issues:
  • Milei’s refusal to update the outdated inflation index (based on 20-year-old consumer survey) despite IMF urging has alarmed observers (07:22).
  • Most experts argue the current impact is modest. However, looming subsidy withdrawals may exacerbate the inflation gap later this year (08:42).
• Quote:

  “Argentines are very nervous about inflation data, about any sign of government meddling in official figures…The problem is that later this year, we expect energy prices to go up…so Argentina could be reporting inflation data that essentially is higher than it really seems to be.”
  — Samantha Pearson (08:42)

• Political Dimension:
  • Upcoming elections intensify scrutiny of inflation figures; past data controversies have triggered peso runs and IMF bailouts (09:32).
• International Impact:
  • Steep negative market reaction following the stats chief’s resignation; potential ramifications for US policy as Trump bets on Milei’s economic reforms (10:29).
• Quote:

  “What happens in Argentina has huge ramifications for President Trump as well. He’s bet heavily on Milei and his ability to turn around one of South America’s biggest economies. So a lot is riding on this.”
  — Samantha Pearson (10:29)

---

Notable Quotes & Moments

• Yousef Khan on global business impact (01:30):
  “A really big deal for companies operating globally...”
• Miriam Gottfried on US-Canada trade clash (02:34):
  “Canada paid for the construction of the bridge. The US didn’t want to pay…”
• Peter Lander on the yuan’s limits (04:46):
  “It’s certainly not in China’s interest to see the dollar disappear and they wouldn’t want the dollar to get sharply weaker either…”
• Samantha Pearson on Argentine market fallout (10:29):
  “We saw a very negative reaction in markets in Argentina after Lavagna’s resignation...close to 10% drop in the stock market.”

---

Timestamps for Key Segments

• 00:21 – 01:53: Context and implications of reversing the EPA’s 2009 climate “endangerment finding"
• 01:53 – 02:34: US-Canada bridge controversy
• 02:59 – 04:07: Israel’s new West Bank policies, global reactions
• 04:07 – 05:12: China’s currency strategies; impact on the dollar
• 05:12 – 06:13: Preview of the US jobs report; audience engagement
• 06:44 – 10:52: Argentina’s inflation index dispute, political and economic ramifications

---

Tone and Style

The episode maintains a brisk, matter-of-fact tone suitable for busy listeners wanting concise, impactful news summaries. Direct quotes from correspondents and outside sources immerse the audience in both the facts and the urgency of developing stories.

---

For a full listen, find this and more on the WSJ What’s News feed.

Transcript

[Ryan Knudson]

Hey, it's Ryan Knudson, host of the Journal Podcast, our show about money, business and power. If you're looking for more deeply reported stories like we share every day, consider becoming a subscriber to the Wall Street Journal. Visit subscribe.WSJ.com TheJournal all lowercase to subscribe now.

[Luke Vargas]

The White House prepares to reverse a key finding linking greenhouse gases to public health risks. Plus, President Trump threatens to block the opening of a bridge connecting the US and baffling officials north of the border.

[Miriam Gottfried]

This is just another, you know, another speed bump that Donald Trump has put in the way of doing good things, not just for our country, but for his as well.

[Luke Vargas]

And we'll unpack what a stronger Chinese currency could mean for the dollar. It's Tuesday, February 10th. I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of what's news, the top headlines and business stories moving your world. Today, the Trump administration is planning to reverse a 2009 legal finding linking greenhouse gas emissions with threats to public health and welfare. We understand that the rollback would gut the legal underpinning used to regulate power plant emissions as well as fuel efficiency standards for cars. Officials claim the regulatory rollback would equate to a trillion dollars in savings. However, Journal sustainability reporter Yousef Khan said it could also create headaches for businesses navigating the growing delta between American and global environmental this is going to be.

[Yousef Khan]

A really big deal for companies operating globally, but even just within the US we're seeing climate regulations within places like California coming through and New York. But say for a company operating in Europe, where you've got climate regulations that are already in force on one side in Europe, you've got an obligation to bring down your emissions and report your emissions on the other side, we might see the rollback of those sorts of regulations and the idea that you can continue to pollute.

[Luke Vargas]

Environmental groups have said they would challenge the rollback in the courts, though it could be years before litigation is resolved. Meanwhile, President Trump is throwing a wrench in plans to open a new bridge connecting Canada and the US Near Detroit after almost eight years of construction, funded by Canada. He's threatening to block the bridge's opening, saying the US should own up to half of it and criticizing Canada for not treating the US with the respect that we deserve. Trump pledged support for the bridge in 2017, with Canada agreeing to collect tolls that would pay a private sector builder. Speaking on Canada's CBC News, the mayor of Windsor, Ontario, where the BRID is located called Trump's comments insane.

[Miriam Gottfried]

Canada paid for the construction of the bridge. The US didn't want to pay, canada said. We think it's important. We're going to pay for it. We're going to fund it to help facilitate international trade. And so the president on one hand is criticizing a decision made by the government of Ontario to remove US Alcohol off the shelves. But at the same hand, on the other hand, he's saying, I don't want to open a facility that's actually going to facilitate more trade between the two nations.

[Luke Vargas]

The White House didn't respond to a request for comment, nor did a representative for Prime Minister Mark Carney. Israel is assuming broad new powers in the west bank to make it easier for Israeli settlers to buy territory there. Among the steps taken by Israel's Security Cabinet, it's repealing a law preventing the sale of west bank land to outsiders, publishing sealed land registries to help prospective buyers identify landowners, and seizing a range of regulatory powers from the Palestinian Authority that were granted to it under the Oslo Accords. Those actions come ahead of a meeting tomorrow between Israeli Prime Minister Benjamin Netanyahu and President Trump in Washington. Several Arab governments and the EU have criticized the latest Israeli moves. There has been a lot of chatter in markets today about whether China is moving to use the dollar less and strengthen the role of its own currency, the yuan. Our Asia Finance editor Peter Lander says that so called de dollarization isn't new but has been gaining momentum as some countries bristle over the power the US holds thanks to the dollar's dominance.

[Peter Lander]

For most international transactions today the dollar is used and there is some discussion for years now that China might want to use its own currency. If China seems to be using the dollar less or Treasuries are being sold, it could cause the dollar to weaken and the yuan to strengthen. And in fact we are seeing some modest strengthening in the yuan, but this is within the normal bounds of what we've seen over the decade. But it's the speculation that a more radical shift could be in the offing is behind some of the market trades.

[Luke Vargas]

Given that the yuan isn't freely traded, Peter added that it would take a long time for it to replace the dollar as a global currency, if that's even something.

[Peter Lander]

Beijing wants the Chinese government directly and Chinese government affiliated institutions. They own a huge number of US Treasuries and other US dollar denominated securities. So it's certainly not in China's to see the dollar disappear and they wouldn't want the dollar to get sharply weaker either. But there may be some room at the edges to bring the renminbi, the Chinese currency, more directly into global commerce.

[Luke Vargas]

And we are a day away from what's become a hotly anticipated U.S. jobs report. Its delayed release comes as employment has been growing at a glacial pace and as surveys point to widespread pessimism when people consider their odds of finding work if they lost their job. So what do you think? Whether you're making hiring or firing decisions, looking for work, or just trying to make sense of how AI could affect your industry, we'd love to hear from you. To share your view on the job market or ask a question of one of our reporters, email a voice note to wnpodwsj.com or leave us a voicemail on 212-416-4328. Either way, just make sure to include your full name and location so we can use your comments on the show. Well, coming up, Speaking of government economic data, Argentina's inflation figures are back under scrutiny in what correspondent Samantha Pearson says could become a key test of President Javier Milei. Stick around after the break.

[Indeed Sponsor]

This episode is brought to you by indeed. Stop waiting around for the perfect candidate. Instead, use Indeed sponsored jobs to find the right people with the right skills fast. It's a simple way to make sure your listing is the first candidate. C. According to Indeed data, sponsored jobs have four times more applicants than non sponsored jobs. So go build your dream team today with Indeed. Get a $75 sponsored job credit at Indeed.com podcast. Terms and conditions apply.

[Luke Vargas]

Argentina is set to provide its January inflation update today. It's a data point we don't normally pay attention to here on the podcast, but as Journal correspondent Samantha Pearson reports, data from the country is very much in the spotlight now after a major resignation atop the country's statistics agency resurfaced long running concerns about the trustworthiness of economic indicators in a country all too familiar with price meddling. Samantha Listeners will remember Argentine President Xavier Milei took office. He had a lot of big ideas for slashing spending, tackling what had been triple digit inflation in the country. But that was several years ago. So why is this back in the spotlight now?

[Samantha Pearson]

So since Milei took office in the end of 2023, he's really made a lot of progress on inflation, which has traditionally been one of Argentina's biggest problems. So he's brought that down from about 200% annually to around 31%. That's low for Argentina. So in general, he's impressed investors. He's impressed President Trump, but there are some concerns now about the reliability of this inflation data. So a week ago, the head of Argentina's index, Statist Agency, which measures national statistics in the country, Michael Lavanier, he quit and his resignation was tied to the introduction of a new inflation index. So ever since Milei took office, the IMF economists in the country have been urging him to update the index in Argentina that measures inflation. It's out of date. The prices it uses are current, but it's based on a consumer survey that was done 20 years ago and Milei has repeatedly refused to update it. And the head of the stats organization basically had enough and said, I can't do this anymore, I'm quitting.

[Luke Vargas]

And we should just point out that there's a history of this agency and its data being called into question. So this is tapping into some existing concerns about the reliability of government data.

[Samantha Pearson]

Argentines are very nervous about inflation data, about any sign of government meddling in official figures. Currently, the index that Argentina is using does not make a huge difference. Economists that we spoke to said maybe the difference is about 1% percentage point higher. For Argentina, that's not that much. The problem is, is that later this year we expect energy prices to go up. That's partly because Milei is going to be withdrawing subsidies for energy prices as part of his austerity measures. So the problem is, and the concern really is that that gap could widen. So Argentina could be portraying inflation data or reporting inflation data that essentially higher than it really seems to be.

[Luke Vargas]

Is Milei facing political pressure around this?

[Samantha Pearson]

I mean, Milei has good reasons, in theory, good reasons why he doesn't want to do this.

[Peter Lander]

Now.

[Samantha Pearson]

He says that it's hard to compare data when you start halfway through the process of trying to bring inflation down. He also says that the index that they're proposing to use is more up to date than the current index, but it's still, you know, a few years old and that they need to introduce another index. But yes, politics is a concern here. We've got elections next year. And in Argentina, inflation data is a very sensitive subject. So if you remember what happened, happened with Macri, a market friendly president In Argentina in 2017, everything was going relatively well and then suddenly he decided to tweak the central bank inflation targets and everyone freaked out. There was a very negative market reaction. And many economists here in Argentina say that was basically the beginning of the end for his government. There was a run on the peso, a bailout from the imf, and essentially it led the way for the return of the Peronists.

[Luke Vargas]

I'm glad you mentioned, Samantha, the international perspective here because Argentina is still very dependent on overseas support financially.

[Samantha Pearson]

We saw a very negative reaction in markets in Argentina after Lavagna's resignation. We saw a close to 10% drop in the stock market. Obviously, what happens in Argentina has huge ramifications for President Trump as well. He's bet heavily on Malay and his ability to turn around one of South America's biggest economies. So a lot is riding on this.

[Luke Vargas]

That was Journal correspondent Samantha Pearson. Samantha, thank you so much for the update.

[Samantha Pearson]

Thanks very much.

[Luke Vargas]

And that's it for what's news for this Tuesday morning. Today's show was produced by Hattie Moyer and Daniel Bock. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for the Wall Street Journal. We will be back tonight with a new show. And until then, thanks for listening.

[Ryan Knudson]

Hey, this is Telus Demos.

[Miriam Gottfried]

And I'm Miriam Gottfried. We're reporters at the Wall Street Journal and The hosts of WSJ's take on the Week. It's a weekly show that gives listeners a leg up in the world of markets and investing.

[Ryan Knudson]

From the Fed's moves to market bubbles, we dive into the biggest deals, key players and business news ahead. If you're looking for more news and tools that you can use to help navigate the markets, consider becoming a subscriber to the Wall street journal.

[Miriam Gottfried]

Visit subscribe.WSJ.com takeontheweek. To subscribe now.