There and how did these parts get through layers and layers of inspection . John im john roberts in washington. Happy friyay. Sandra outages, delays and close calls becoming all too normal and just last month United Airlines issued a nationwide ground stop after an equipment failure. John the faa is facing technology and staffing challenges, including at the highest levels. No one has led the Critical Agency for the past 18 months. Every day some 3 million passengers board commercial flights in and out of u. S. Airports. Faa manages 29 million square miles of air space. When it comes to aviation safety, the buck stops with the faa. The faa is needs to be modernized. Its still, you know, its papers in a filing cabinet. Sandra fox Business Reporter Ashley Webster is with us. Great to see you, by the way. What can you tell us about the search for the engine parts. Boggling how they got there to begin with. It is a shocking story, sandra, the company accused of selling bogus jet engine par
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and look, the markets had already freaked out in recent months following previous tariffs so what s the concern now and who s going to get hurt by this? well, we need to keep in mind that mexican imports go far beyond things like avocados and beer. we re talking about cars, airline parts, appliances, so many of the large consumer goods that americans purchase. this all adds up to a billion dollars a day, so these tariffs would have a far reaching impact on u.s. consumers. so u.s. consumers because theoretically, wouldn t this be to stop people from coming across the border? that s what the president, julia, seems to be indicating, if the idea is, then, to stop folks from coming across the border, how likely is it that this is going to do that? well, the border officials that i have spoken to are on the ground today say they don t expect a change based on these tariffs. what they are looking at is an
agreement. $4.2 billion of that is frozen assets, iranian assets frozen overseas. those are going to be released at about a half billion dollars a time every three or four weeks. that doesn t start for another three or four weeks or so. but from today, some of the other sanctions relief begins right away. for instance, there have been restrictions on buying auto parts, an airline parts. this is a big deal in iran, because some of their planes are old, there are a lot of accidents in iran and part of that, many iranians will tell you, is because they can t get the spare parts they need. they re going to start to get those spare parts today. they re also going to be able to sell some petro chemicals, earns them money probably in the tens, hundreds of millions of dollars. compared to the total loss from sanctions, a drop in the bucket. implements it s estimated they lose $30 billion because of sanctions on their oil sales. so when you look at 6, $7 billion in this initial agreement, it s
now a strike this size it will absolutely be big impact, because inside all of these containers are things like electronics, computer components, clothing, auto par parts, airline parts and all for distribution to u.s. households far inland from our coastal ports. experts say if the strike does happen you can bet the economy will be seriously hurt. there was a strike in long beach and los angeles a few weeks ago and that was just clerks and it cost that area $1 billion a day. this is going to cost a lot more money than $1 billion a day. reporter: all up and down the east coast and gulf coast every major port will be impacted, this goes from boston, new york, new jersey, philadelphia, all the way through florida and down to houston, texas. again, the white house urging both side to work this out. there is a federal mediate erin solved, however all sides right now, the union as well as the
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