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Yahoo
a day ago
- Business
- Yahoo
Michigan State hikes tuition 4.5%, but leaves wiggle room for legislative cap
LANSING — Students will pay a few hundred dollars more to attend Michigan State University for the 2025-26 academic year, but the exact amount is still in flux while legislators iron out the state budget. Trustees voted June 13 at a meeting in Traverse City to raise tuition 4.5%, but included language that will reduce that amount if the state budget includes a cap that is lower than that, the university said. The state Legislature typically determines a percentage cap that universities can increase tuition for in-state students by, and if an institution goes over that amount it is no longer eligible for millions in state funding. MORE: Michigan State trustees pause demolition of IM West, OK study to decide building's future Last year, that cap was 4.5%, and both Democratic Gov. Gretchen Whitmer and the Democratic-controlled Michigan Senate proposed that same cap for the coming fiscal year in their budget recommendations. However, the Republican-controlled Michigan House of Representatives previously recommended a 3% cap, but the bill passed with a substitute that brought the cap to 4.5%. "If you've been reading or listening to the news this week, then you have heard of the threat of additional state appropriation cuts," said Trustee Sandy Pierce, who chairs the board committee of budget and finance. "State appropriations per resident undergraduate student has fallen by 44% since fiscal year 2000 when adjusted for inflation." The state's final budget may take some time to negotiate between the Republican-led House and the Democratic-led Senate. Lawmakers have a July target date to finalize it but the deadline is the end of the current fiscal year, on Sept. 30. MORE: MSU Board of Trustees approves hiring of AD Batt, extension for hockey coach Nightingale As of now, per semester base costs for undergraduate students from Michigan will increase by $399. Freshmen will pay $8,458 per semester, sophomores will pay $8,653 and most juniors and seniors will pay $9,642. Juniors and seniors from Michigan who are in the Eli Broad College of Business or the College of Engineering will pay $9,935 per semester. Undergraduate students from outside Michigan and international students will also see a per semester base rate tuition increase of $399. Freshmen and sophomores will now pay $22,150 and juniors and seniors will pay $22,818. Juniors and seniors who are in the Eli Broad College of Business or the College of Engineering will pay $23,127 per semester. Graduate students will see per-credit hour costs increase a similar rate, the university said. The university said in a statement that the budget allocates an additional $6 million to student financial aid. The University of Michigan raised its tuition rates June 12. In-state tuition and fees for undergraduates will increase by about $610, or 3.4%, for an annual rate of $18,346. Tuition and fees for nonresident undergraduate students will increase by $3,016, or 4.9%, for an annual rate of $63,962, according to information posted on the university's website. Contact Sarah Atwood at satwood@ Follow her on X @sarahmatwood. This article originally appeared on Lansing State Journal: Michigan State University increases cost of tuition 4.5%
Yahoo
28-04-2025
- Business
- Yahoo
‘No way' US can recoup lost China container imports: Analyst
While the China trade embargo instigated by President Donald Trump's tariff war has focused on the evolving collapse of eastbound trans-Pacific container volumes to the United States, a closer look at the intersection of China's share of tonnage and specific goods moving through U.S. ports paints an even more devastating picture. According to Census Bureau data, the list of American ports that processed the most containerized imports from China in 2024 was led by Los Angeles, at 22,237,485 million metric tons, or 51%, of the port's total 43,912,894 tons of global cargo. China accounted for 8,341,200 tons, or 61%, of a total 13,592,209 tons through the neighboring Port of Long Beach, the second-highest total. Newark, New Jersey, was third and the leading East Coast gateway at 7,520,488 tons, a 23% share, of a total 32,995,507 tons. China's share among other major container ports was 47% through Tacoma, Washington, 37% through Oakland, California, 36% through Seattle, 21% through Charleston, South Carolina and 18% through Norfolk-Newport News, Virginia. The scope of China's share of all tonnage by commodity, according to the U.S. Harmonized Tariff Schedule (HTS), shows its dominance across top import categories. China's share, ranked in descending tonnage, is topped by items made of plastic including toys, household goods and personal care items, 46%; residential and office furniture, 46%; nuclear reactors, 41%; electronics ranging from big screen TVs to electric blankets, 40%; iron and steel goods, 47%; and toys and sports equipment, 88%. Import categories of lesser tonnage but still China-dominant include bedsheets and pillowcases, 61%; tractors, motorcycles and bicycles, 40%; and printer and writing paper as well as paperboard for packaging, 24%. Companies are rushing to shift sourcing to Vietnam, Thailand, India, Malaysia and Indonesia, among other countries, before Trump's 90-day pause on reciprocal tariffs ends, said Jason Miller, who teaches supply chain at Michigan State University's Eli Broad College of Business, in a LinkedIn post. 'No way we can make up for the 30-60% lost volumes from China [via other countries] due to the tariffs,' said Miller. 'This bodes quite ill for local employment around the most affected ports, as fewer imports equal fewer drayage drivers and warehouse workers, coupled with knock-on effects from less activity in general (e.g., local restaurants seeing less business). 'Unless the 145% China tariffs are dropped very soon (e.g., this week), I don't see how this scenario is avoided.' There have been mixed signals out of China, with some U.S.-based logistics executives on the ground there indicating Walmart and Target have given factories the go-ahead to resume production, though the companies haven't resumed inspections prior to shipping. This would seem to indicate that the retailers are refilling the order pipeline following reports of their visits to the White House, and Trump's public statements after that the China tariffs would be coming down. But there was uncertainty over whether Trump would carve out tariff exceptions just for the mega-retailers, or whether reductions would apply to all importers. Find more articles by Stuart Chirls Global container volumes to drop 1% on Trump tariffs Chief negotiator on union longshore pact to lead USMX Trans-Pacific container rates stable as trade war rages Shares of largest US-flag container carrier plunge under Trump tariffs The post 'No way' US can recoup lost China container imports: Analyst appeared first on FreightWaves. Sign in to access your portfolio
