
President Donald Trump used the attack to call for tougher USA immigration rules, saying the current "lax" policy "allows far too many unsafe, inadequately vetted people to access our country".
New York City was a target, said John Miller, deputy police commissioner of intelligence and counterterrorism. "It was two distinct explosions seconds from each other".
The weapon was based on a pipe bomb and attached to the suspect, police said.
Miller cited the attacks of September 11, 2001, that killed more than 2,750 people in NY and almost 3,000 people total; and the World Trade Center bombing of February 26, 1993, which killed six people.
Cuomo told cable news channel NY1 that officials "have reason to believe that this person went to the internet and found out how to make a homemade bomb".
"Thank God the perpetrator did not achieve his ultimate goals", said NYC Mayor Bill de Blasio.
He added that there are no additional known incidents or activities at this time.
Commuters flee the New York Port Authority after reports of an explosion.
The Port Authority Bus Terminal was built in 1950 and expanded in 1979.
NY is on high alert ahead of the holidays, which culminate every year with the giant New Year's Eve celebration in Times Square, attended by hundreds of thousands of revellers. "Everybody was scared and running and shouting".
All MTA trains are bypassing the Port Authority and 42 St. stops as police investigated the incident.
At the press conference on Monday, reporters asked police authorities why New York City seems to be seeing more frequent occurrence of terror attacks in recent days.
The suspect's identity has not yet been released, but CBS reported it is a male suspect in his 20's, who is from Bangladesh and lives in Brooklyn.
On a typical weekday, about 220,000 passengers arrive or depart from the terminal on more than 7000 buses.
Meanwhile, US President Donald Trump was briefed on the explosion, White House spokeswoman Sarah Huckabee Sanders wrote on Twitter.
Greyhound and Airport service remains suspended out of Port Authority.
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