Latest news with #UniversityofCentralArkansas
Yahoo
29-05-2025
- Business
- Yahoo
Tariff court ruling throws another wrench into companies' trade strategies
The Wednesday court decision blocking President Trump's emergency tariff powers could give companies the option of getting a refund on duties they've paid, but it adds another layer of complexity for companies dealing with the administration's rapidly changing trade policies. While the White House immediately appealed the decision from the U.S. Court of International Trade, the ruling opens up the possibility that businesses will be able to apply for refunds from the government, trade and legal experts told The Hill. 'It is likely, even though the court order didn't say anything specific about refunds, that the affected companies will be able to apply for refunds. There is precedent for this,' Jeremy Horpedahl, an economist at the University of Central Arkansas and a scholar with the Cato Institute, told The Hill. Companies that have previously overpaid on tariffs that have been stacked on top of each other as a result of multiple White House orders have been applying for refunds that U.S. Customs has been processing, Horpedahl said. 'There is grounds for a refund,' Leila Carney, an attorney with Caplin Drysdale, told The Hill. 'Whether the government will put in place an administrative process for that or whether taxpayers will have to file refund claims and refunds suits depends on how this plays out.' Not all attorneys agree on this, however. Andrew Gould, an attorney with law firm Holtzman Vogel, noted the decision was 'silent' on the particular issue of refunds and that it could require further legal actions to make that option available to importers. 'The court's order is silent on that issue. I think there would have to be additional actions to actually pursue that,' he said. 'I think that's going to require separate follow up to try to get that relief.' U.S. Customs and Border Protection (CBP) and the Department of Commerce did not immediately respond to The Hill's request for clarification on whether and how businesses will be able to apply for refunds as a result of the decision. Trump has pulled multiple tariff orders so far in the course of negotiations and the general economic reaction, and the Wednesday court ruling constitutes another policy reversal for Trump's trade war that businesses will have to deal with. 'It's not a sufficient basis for [companies] to make their business decisions on,' Carney said, adding that the environment of uncertainty around international trade will remain as a result of the decision. 'A question that our clients have been asking is, how do we pay? How do we know that we're paying the right amount? How do we argue if we think that we have a different product than the one that's addressed by the tariff?' she said. The order from the Court of International trade says that the tariffs are to be 'vacated,' as they do not fall under an appropriate use of the International Economic Emergency Powers Act (IEEPA). 'The worldwide and retaliatory tariff orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The trafficking tariffs fail because they do not deal with the threats set forth in those orders. … The challenged tariff orders will be vacated and their operation permanently enjoined,' the court ruled. The decision strikes down IEEPA tariffs on China, Mexico and Canada, as well as the 10 percent general 'reciprocal' tariff. Country-specific general tariffs would also be nullified by the decision, although those 'Liberation Day' tariffs have been paused while bilateral trade negotiations are being carried out. The total affected duties collected this year amount to about $13 billion, according to a tally by the U.S. Customs and Border protection. U.S. trade officials in the middle of these negotiations are ruing the decision. 'In each case, those ongoing, delicate negotiations are premised on the ability of the President to impose tariffs under IEEPA,' U.S. Trade Representative Jamieson Greer said in a statement, as reported by trade publication Inside U.S. Trade. The ruling brings down the overall effective U.S. tariff rate, which was as high as 25 percent before China and the U.S. agreed to pause their triple-digit tariffs on each other. After the pause, the rate fell to about 13 percent and now stands around 7 percent, according to the Yale Budget Lab. That's still the highest level in decades. 'Consumers face an overall average effective tariff rate of 6.9 percent, the highest since 1969. After consumption shifts, the average tariff rate will be 7 percent, also the highest since 1969,' members of the Yale Budget Lab wrote in a Thursday analysis. The decision leaves in place nonemergency Section 301 tariffs on China affecting about $23.4 billion worth of goods. Section 232 tariffs on steel, automobiles and aluminum also remain in place, as do Section 201 tariffs on solar products. Morningstar economist Preston Caldwell noted Thursday that the administration has recourse to other laws if it wants to keep tariff rates elevated despite the injunction. 'Trump could use Section 122 authority to impose tariffs of up to 15 percent for up to 150 days,' he wrote in a commentary. 'This could fill the gap and keep tariffs elevated until Section 232 or Section 301 tariffs come in place. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
29-05-2025
- Business
- The Hill
Tariff court ruling throws another wrench into companies' trade strategies
The Wednesday court decision blocking President Trump's emergency tariff powers could give companies the option of getting a refund on duties they've paid, but adds another layer of complexity for companies dealing with the administration's rapidly changing trade policies. While the White House immediately appealed the decision from the U.S. Court of International Trade, the ruling opens up the possibility that businesses will be able to apply for refunds from the government, trade and legal experts told The Hill. 'It is likely, even though the court order didn't say anything specific about refunds, that the affected companies will be able to apply for refunds. There is precedent for this,' Jeremy Horpedahl, an economist at the University of Central Arkansas and a scholar with the Cato Institute, told The Hill. Companies that have previously overpaid on tariffs that have been stacked on top of each other as a result of multiple White House orders have been applying for refunds that U.S. Customs has been processing, Horpedahl said. 'There is grounds for a refund,' Leila Carney, an attorney with Caplin Drysdale, told The Hill. 'Whether the government will put in place an administrative process for that or whether taxpayers will have to file refund claims and refunds suits depends on how this plays out.' Not all attorneys agree on this, however. Andrew Gould, an attorney with law firm Holtzman Vogel, noted that the decision was 'silent' on the particular issue of refunds and that it could require further legal actions to make that option available to importers. 'The court's order is silent on that issue. I think there would have to be additional actions to actually pursue that,' he said. 'I think that's going to require separate follow up to try to get that relief.' U.S. Customs and Border Protection (CBP) and the Department of Commerce did not immediately respond to The Hill's request for clarification on whether and how businesses will be able to apply for refunds as a result of the decision. Trump has pulled multiple tariff orders so far in the course of negotiations and the general economic reaction, and the Wednesday court ruling constitutes another policy reversal for Trump's trade war that businesses will have to deal with. 'It's not a sufficient basis for [companies] to make their business decisions on,' Carney said, adding that the environment of uncertainty around international trade will remain as a result of the decision. 'A question that our clients have been asking is, how do we pay? How do we know that we're paying the right amount? How do we argue if we think that we have a different product than the one that's addressed by the tariff?' she said. The order from the Court of International trade says that the tariffs are to be 'vacated,' as they do not fall under an appropriate use of the International Economic Emergency Powers Act (IEEPA). 'The worldwide and retaliatory tariff orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs. The trafficking tariffs fail because they do not deal with the threats set forth in those orders … The challenged tariff orders will be vacated and their operation permanently enjoined,' the court ruled. The decision strikes down IEEPA tariffs on China, Hong Kong, Mexico and Canada as well as the 10-percent general 'reciprocal' tariff. Country-specific general tariffs would also be nullified by the decision, although those 'Liberation Day' tariffs have been paused while bilateral trade negotiations are being carried out. The total affected duties collected this year amount to about $13 billion, according to a tally by the U.S. Customs and Border protection. U.S. trade officials in the middle of these negotiations are ruing the decision. 'In each case, those ongoing, delicate negotiations are premised on the ability of the President to impose tariffs under IEEPA,' U.S. Trade Representative Jamieson Greer said in a statement, as reported by trade publication Inside U.S. Trade. The ruling brings down the overall effective U.S. tariff rate, which was as high as 25 percent before China and the U.S. agreed to pause their triple-digit tariffs on each other. After the pause, the rate fell to about 13 percent and now stands around 7 percent, according to the Yale Budget Lab. That's still the highest level in decades. 'Consumers face an overall average effective tariff rate of 6.9 percent, the highest since 1969. After consumption shifts, the average tariff rate will be 7 percent, also the highest since 1969,' members of the Yale Budget Lab wrote in a Thursday analysis. The decision leaves in place non-emergency Section 301 tariffs on China affecting about $23.4 billion worth of goods. Section 232 tariffs on steel, automobiles and aluminum also remain in place, as do Section 201 tariffs on solar products. Morningstar economist Preston Caldwell noted Thursday that the administration has recourse to other laws if it wants to keep tariff rates elevated despite the injunction. 'Trump could use Section 122 authority to impose tariffs of up to 15 percent for up to 150 days,' he wrote in a commentary. 'This could fill the gap and keep tariffs elevated until Section 232 or Section 301 tariffs come in place.
Yahoo
24-05-2025
- Sport
- Yahoo
Michael Jordan told Phil Jackson that Scottie Pippen was the second-best player on the 1992 Dream Team: "He was a legitimate star"
Fans and analysts were relieved for Michael Jordan when the Chicago Bulls captured the 1991 NBA Championship, the first in his career. The victory signified Jordan's transition from a talented star to a true winner. Jordan's stock reached an all-time high in the summer of 1991. When the Bulls won their second consecutive title in 1992, the "Black Cat" was still considered the greatest player alive, but a handful of analysts were starting to look at the help Mike was receiving on his way to championship glory. After all, winning back-to-back chips is very rare, and MJ, for all his greatness, could never do it alone. The rise of a star Their eyes turned to University of Central Arkansas alum Scottie Pippen, the forward who, in Game 6 of the 1992 NBA Finals, led the second unit on a 14-2 run before Jordan and the starters returned to seal the deal against the Portland Trail Blazers. Advertisement Pippen continued his hot streak in the 1992 Barcelona Olympics. He played so great on the 1992 Dream Team that he was finally starting to get the recognition he deserved. MJ admitted to Bulls head coach Phil Jackson after the games that Scottie was turning heads in Barcelona with his great play. The "Zen Master" agreed, noting that, after the 1992 Championship and the Olympics, Pip became a star in his own right. "Michael came back from the Olympics and he told me Scottie was the second-best player on that team," said Jackson, via It wasn't just Michael who made this great discovery. Fans, too, began to notice how important Pip's defense and intelligence were in the Bulls and Team USA's success. Advertisement "People knew he was a pretty good sidekick to Michael, but all of a sudden, they were starting to recognize that he was a legitimate star in his own right who had really developed over the prior three to four years. He wasn't just an active, defensive small forward anymore. He was a player who could excel at three, if not four, positions. He was a real force on our team in that regard and Michael recognized that," Jackson believed. Related: "They think he was a chubby White guy" - Kareem Abdul-Jabbar thinks people don't appreciate Larry Bird enough Pip's greatest talent To the untrained eye, Pippen's height, length, and quickness enabled him to match up against anyone on the floor. It was these traits that separated him from an ordinary small forward. Advertisement But for Jackson, one of the greatest coaches ever, who could see beyond the physical, Pippen was more than just a special athlete. He also possessed a sound basketball mind and was an expert communicator. When he wasn't locking people down, he was telling his teammates how to defend. "His greatest strength was his knowledge of how things worked on the defensive end of the floor," he said. "Scottie was the voice of our team — figuratively and literally, as he did a lot of the talking and kept our team on the same page. When he wasn't at the top of the key harassing a guard as a special assignment, he was on the backside of our defense talking his teammates through different situations, whether it was a double team, trap or some other important aspect. Because of that, he was very vital to the run that we made," Jackson concluded. Related: "He looks like the old Scottie, in the Red and White" - Bruce Bowen admitted guarding Blazers Pippen was still a problem
Yahoo
24-05-2025
- Yahoo
Search continues for suspect wanted in UCA campus shooting
HAZEN, Ark. – A search is underway across central Arkansas this Memorial Day weekend as authorities continue looking for a suspect wanted in connection with a shooting on the University of Central Arkansas campus. The suspect, identified as 23-year-old Zion Jackson, has eluded Hazen police twice and is now facing a growing list of charges, says the police chief. Conway police detail arrests, warrants in recent shootings According to Hazen police, what began as a routine traffic stop on May 10 quickly escalated into a dangerous pursuit that spanned the city and has kept law enforcement on high alert. The incident started around 8:45 p.m. when an officer pulled over a vehicle in the Family Dollar and Dollar Tree parking lot on Highway 63. Body camera footage shows the interaction beginning calmly before Jackson became visibly nervous. When questioned, Jackson expressed fear, referencing his race. 'You're just starting to get real nervous over your ID,' the officer is heard saying. 'Yeah man, I'm Black and I don't… you know what I'm saying?' Jackson replied. 'What does that have to do with anything?' the officer asked. 'I'm scared, bro,' Jackson responded. Police say the officer smelled marijuana and began identifying passengers in the vehicle. Hazen Police Chief Bradley Taylor said Jackson initially gave a false name. When officers discovered a gun in the car, Jackson fled on foot. Students at UCA and people in Conway react to the news of college campus shooting Authorities later confirmed his identity and discovered he was wanted in connection to an April 19 shooting on the UCA campus in Conway. Jackson was already facing charges of felony first-degree battery and felony terroristic act. But the chase didn't end there. Later that night, authorities said Jackson was spotted again, this time behind the wheel of a stolen City of Hazen truck equipped with a mosquito sprayer. 'You could see the mosquito sprayer in the back of the truck,' Taylor said. 'The city is the only one that has those.' Officers attempted a tactical vehicle intervention after pursuing and reaching speeds of 80 miles per hour through residential streets. Once again, Jackson fled on foot and escaped the perimeter police set up. Authorities believe Jackson then stole a second vehicle, described as an older model black Chevrolet truck. That vehicle was last seen in Searcy on May 18. Both the truck and Jackson remain missing. Taylor said Jackson is considered armed and dangerous. 'We are working with the U.S. Marshals and the Conway Police Department, trying to track Mr. Jackson down,' he said. Conway police investigating Saturday morning shooting that injured 1 student Anyone with information on Jackson's whereabouts is urged to contact local authorities immediately. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
27-04-2025
- Politics
- Yahoo
Capitol View: UCA President Houston Davis, columnist John Brummett
LITTLE ROCK, Ark. – It was a very busy legislative session, particularly on the education front. Capitol View host Roby Brock met with University of Central Arkansas president Houston Davis to discuss ACCESS, Gov. Sarah Huckabee Sanders' higher education reform bill, and collaboration with other schools. Roby then talks with Arkansas Democrat-Gazette columnist John Brummett to discuss the overview of the recent legislative session. Capitol View airs on Sundays at 8:30 a.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
