Entertainment
What hurdles lie ahead for US businesses after rollback of global trade levies?
The Supreme Court’s striking down of President Donald Trump’s global tariffs, while a relief to many, heralds more months of uncertainty as US businesses brace for new levies and a fight for refunds plays out.
Long road to refunds
The ruling sets up a long fight for tariff refunds, as the duties, now deemed illegal, generated some $133.5 billion from January 2025 to mid-December.
The top court did not address the refund issue, and analysts say this will be decided by lower courts in the coming months.
The US Court of International Trade is expected to manage this process, said ING analysts Carsten Brzeski and Julian Geib.
“Refunds won’t come automatically, as any importer that wants its money back must sue individually,” they said.
“This process has already kicked off, with over 1,000 corporate entities now involved in a legal fight.”
Trump told reporters Friday: “We’ll end up being in court for the next five years.”
More volatility
Hours after the court decision, Trump vowed to impose a new 10% tariff on imports under an alternative authority.
This is widely seen as a temporary move to pave the way for more durable tariffs, but is set to trigger other challenges and upheaval in the meantime.
The law Trump is tapping for this tariff — Section 122 of the Trade Act of 1974 — only allows for a duty of 150 days unless Congress extends it.
Trump has said there will be new investigations of unfair trade practices under Section 301, a path towards more lasting duties.
Josh Lipsky, chair of international economics at the Atlantic Council, said Friday’s ruling merely “opens a new chapter” in Trump’s tariff policy.
There will be “more uncertainty, more volatility for businesses to navigate, and more fraught trade deals for countries to negotiate,” Lipsky added.
Losing speed
But for now, the court’s decision “removes one of Trump’s fastest tools for imposing broad tariffs,” said ING.
US Treasury Secretary Scott Bessent told Fox News on Friday that tariffs based on the International Emergency Economic Powers Act (IEEPA) “were custom-made for President Trump to assert leverage” against other countries.
“We were able to bring them to the table very quickly,” he said.
“We will get back to the same tariff level for the countries,” Bessent vowed. “It will just be in a less direct and slightly more convoluted manner.”
Trade deal uncertainty?
With tariffs imposed via emergency economic powers forming the basis of recent trade talks, analysts warned that some partners may try to rethink their commitments.
Lipsky expects economies that have already made deals to keep them rather than “risk unravelling an agreement which at least has provided some stability.”
But those still finalising deals may have more leverage now.
Asia Society Policy Institute senior vice president Wendy Cutler expects that walking away from announced deals “does not seem to be in the cards for our partners.”
“They know all too well that such a step could end up leaving them in a worse position with the White House,” she said.
Lower tariffs?
With the Supreme Court ruling, consumers “face an overall average effective tariff rate of 9.1%, which remains the highest since 1946, excluding 2025,” according to The Budget Lab at Yale University.
This is down from 16.9%.
Despite Trump’s plan to move towards more lasting duties, Navy Federal Credit Union chief economist Heather Long expects Friday’s ruling “will force a reset in tariff policy.”
She anticipates this is “likely to lead to lower overall tariff rates and a more orderly imposition of future tariffs.”
Conan O’Brien has shared his deep sadness following the tragic deaths of his friends, director Rob Reiner and his wife, Michele.
The couple were found dead in their home on 14 December, just one day after attending O’Brien’s annual Christmas party in Los Angeles.
Speaking to the New Yorker in a recently published interview, the comedian admitted he was still struggling to process the loss.
“It’s just so awful,” O’Brien said, reflecting on Rob’s active role in the country and how much he put himself out there.
He noted that having such a strong voice go quiet so suddenly is still hard for him to comprehend.
O’Brien and his wife had grown increasingly close to the couple in recent years.
He described Rob and Michele as “lovely people” and recalled the chilling experience of saying goodnight to them at his party, only to learn they were gone the next day.
The host shared that the shock of the news stayed with him for a long time afterward.
The tragedy took a darker turn when it was revealed that the couple had been stabbed to death.
Their 32-year-old son, Nick, has since been arrested and charged with two counts of first-degree murder.
Reports from the night of the party suggested that the family had argued during the event.
Nick, an aspiring director who has a history of drug addiction and was being treated for schizophrenia, is currently facing a maximum sentence of life in prison or the death penalty.
The legal case has faced its own complications.
Nick’s high-profile lawyer, Alan Jackson, unexpectedly dropped the case just before a scheduled court hearing in January.
While Jackson refused to give specific reasons for stepping down, he told the Hot Mic podcast that something had happened that affected his team’s ability to continue.
He made it clear that he would not be disclosing any confidential details, simply stating, “Once I’m done, I’m done.”
Nick is now expected to be arraigned this Monday.
Singer-songwriter Barry Manilow announced Friday he needs to reschedule several more concerts as he continues to recover following surgery after he was diagnosed with lung cancer.
In a statement posted Friday to social media, the 82-year-old said he just had a “very depressing visit” with his surgeon, who he said told him: “Barry, you won’t be ready to do a 90 minute show. Your lungs aren’t ready yet.”
Manilow said his surgeon said he was in “great shape considering what you’ve been through, but your body isn’t ready,” and told him: “You shouldn’t do the first Arena shows. You won’t make it through.”
The “Copacabana” hitmaker announced in December that he had been diagnosed with lung cancer and needed to reschedule his January concert dates in order to have surgery.
His upcoming arena shows were scheduled to begin Feb. 27 in Tampa, Florida, according to his website. Manilow said Friday he has to reschedule the first batch of shows from Feb. 27 through March 17.
Mat Hayward / Getty Images
Manilow said that “deep down, I wanted to go back—but my body knew what my heart didn’t want to admit: I wasn’t ready.” He said that while he’s been using the treadmill three times a day, he “still couldn’t sing more than three songs in a row before I had to stop.”
“I’m SO, SO sorry I have to reschedule some of these first Arena shows. Again! But when I do come back, I will COME BACK!!!” he added.
Manilow said his surgeon indicated he might be able to perform in Las Vegas at the end of March and for the second leg of the arena shows scheduled to begin in April.
In December, Manilow said an MRI scan detected “a cancerous spot” on one of his lungs after he suffered a lengthy bout of bronchitis in the midst of a residency in Palm Springs, California.
“It’s pure luck (and a great doctor) that it was found so early,” Manilow said at the time, adding that he was having surgery to have the spot removed.
The Orleans Parish Sheriff’s Office has released the mugshot of Shia LaBeouf following his arrest during Mardi Gras celebrations in New Orleans.
The 39-year-old actor was taken into custody on 17 February and booked on two counts of simple battery after an alleged altercation in the city’s French Quarter.
The incident reportedly began around 5 p.m. on Monday at the Royal Street Inn & R Bar.
According to Jeffrey Damnit, one of the people involved, the confrontation started when LaBeouf began using homophobic slurs inside the bar.
Damnit told PEOPLE that after the actor was eventually moved outside by staff, he began “screaming at everybody” and “lunging at” patrons. The situation turned physical when LaBeouf allegedly jumped at Damnit and punched a bartender in the face.
Shia LaBeouf’s mugshot.
A police report later detailed that one victim’s nose was likely dislocated in the scuffle, noting the individual had to “pushed his nose back into place” himself.
The report also alleged that LaBeouf “used the word ‘f—-t’” multiple times during the event.
After being treated at a local hospital for minor injuries, the actor was released on his own surety. He didn’t stay away from the festivities for long, however.
Just hours after leaving custody, videos appeared online showing LaBeouf back on Bourbon Street, dancing amongst the crowds while seemingly waving his release paperwork.
On Wednesday morning, he broke a months-long social media silence to post a brief message on X: “Free me.”
This latest legal trouble comes just days after the actor had shared a festive selfie in Mardi Gras beads, marking a rare return to public life.
LaBeouf has been candid in the past about his personal hurdles and his journey with sobriety, but he now faces a new challenge in court. His next appearance is currently set for 19 March.
Trump Imposes New Tariffs to Sidestep Supreme Court Ruling
What hurdles lie ahead for US businesses after rollback of global trade levies?
Conan O’Brien finally speaks up on Rob Reiner’s murder
-
Business1 week agoTop stocks to buy today: Stock recommendations for February 13, 2026 – check list – The Times of India
-
Fashion1 week agoIndia’s PDS Q3 revenue up 2% as margins remain under pressure
-
Politics1 week agoIndia clears proposal to buy French Rafale jets
-
Fashion1 week ago$10→ $12.10 FOB: The real price of zero-duty apparel
-
Tech1 week agoElon Musk’s X Appears to Be Violating US Sanctions by Selling Premium Accounts to Iranian Leaders
-
Tech4 days agoRakuten Mobile proposal selected for Jaxa space strategy | Computer Weekly
-
Entertainment4 days agoQueen Camilla reveals her sister’s connection to Princess Diana
-
Politics4 days agoRamadan moon sighted in Saudi Arabia, other Gulf countries