Supreme Court gets petitioned to review tariffs: What to know
US businesses are pushing back against President Trump's tariffs with new urgency.
Yahoo Finance Senior Legal Reporter Alexis Keenan joins Market Domination to explain how two importers are petitioning the Supreme Court to intervene before lower courts issue rulings, calling the tariffs an 'imminent threat.'
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
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Yahoo
35 minutes ago
- Yahoo
Bill sets rules on sales tax hike
GUILFORD COUNTY — State Sen. Phil Berger, R-Rockingham and Senate president pro tem, is pushing a bill through the N.C. General Assembly to set guidelines on how revenue from a quarter-cent sales tax increase could be spent if the referendum is approved by Guilford County voters in the November 2026 general election. Berger, whose district includes parts of Guilford County, said Thursday that the Senate approved an amended version of House Bill 305 that addresses the referendum issue. During its meeting June 18, the Guilford County Board of Commissioners unanimously voted to yet again place the measure before county voters. Voters have rejected the quarter-cent sales tax increase six times in the past 20 years, most recently in the November 2024 general election. While the commissioners have said they want to use the additional revenue to support education, existing law doesn't restrict the use of funds collected for education or any particular purpose, Berger said in a statement. House Bill 305 would specify funds collected through a quarter-cent sales tax increase can only be used for classroom teacher salary supplements, fire protection equipment and services, Guilford Technical Community College and a small amount for municipalities, Berger said. A quarter-cent sales tax increase is expected to generate $25 million annually. 'Voters going to the polls in November 2026 need to know exactly what they're being asked to vote on,' Berger said. 'House Bill 305 now provides them with information so they can make an educated decision. I believe putting strict guardrails on the revenue collected gives taxpayers relevant information and guarantees the funds will be used as promised.' Democratic Guilford County Board of Commissioners Chairman Skip Alston said that he welcomes Berger's initiative. Having the quarter-cent sales increase revenue specified for certain uses will reassure voters and make them more likely to cast a ballot for the referendum, Alston told The High Point Enterprise. House Bill 305 now goes back to the House for a concurrence approval vote. Since the legislation is a local bill, it isn't subject to veto oversight by Democratic Gov. Josh Stein.
Yahoo
36 minutes ago
- Yahoo
Delta Air Lines Makes 'Exciting' Announcement for Travelers
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News24
41 minutes ago
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US envoy plays down AGOA, African visa concerns
The top US diplomat for Africa on Tuesday dismissed allegations of unfair US trade practices and said that funding delays would not derail a key railway project connecting Angola, Zambia and the Democratic Republic of Congo. African Union officials on Monday questioned how Africa could deepen trade ties with the United States under what they called "abusive" tariff proposals and tightening visa conditions, largely targeting travellers from Africa. "There is no visitation ban," Ambassador Troy Fitrell said during a press conference at the US-Africa Business Summit in Luanda. He said that US consulates continue issuing visas regularly, although some now come with shorter validity periods due to concerns over overstays. Several African business and political leaders have raised concerns about a sharp drop in visa approvals, particularly for travellers from West Africa, since late 2023. Washington's tariff plans have also added to cooling diplomatic ties with African countries, as some economies — including Lesotho and Madagascar — warned that even a baseline 10% levy could threaten critical exports such as apparel and minerals. But Fitrell said that the proposed US import tariffs were not yet implemented, and negotiations were ongoing to create a more reciprocal trading environment, including through the renewal of the African Growth and Opportunity Act (AGOA). The initiative grants qualifying African nations duty-free access to the US market and is due to expire in September. Fitrell also reaffirmed his country's commitment to the Lobito Corridor railway project, which links Angola's coast to copper-rich Zambia and the Democratic Republic of Congo. "It's not at risk," he said of the initiative. The US International Development Finance Corporation's Head of Investments, Conor Coleman, described it as a "win-win" for US investors and African economies, and underscoring its significance for regional integration. The Trump administration has axed swaths of US foreign aid for Africa, as part of a plan to curb spending it considers wasteful. Angolan President João Lourenço, addressing more than 2 000 government and business leaders at the summit, said US companies should shift from aid to investment-driven partnerships. "It is time to replace the logic of aid with the logic of investment and trade," Lourenço said, urging diversification into sectors such as automotive manufacturing, shipbuilding, tourism, cement, and steel production.
