February 22, 2026 - 22:46

A years-long legal battle against one of the former administration's signature trade policies has concluded with a landmark victory for American importers. Wine importer Victor Schwartz successfully challenged the constitutionality of tariffs levied on European goods during the Trump presidency, with the Supreme Court allowing a lower court's ruling in his favor to stand.
The case centered on so-called "Section 232" tariffs, which were placed on steel, aluminum, and various European products, including wine, in the name of national security. Schwartz's company argued the taxes were applied unlawfully and inflicted severe financial harm, threatening the survival of many small businesses. The legal team contended that the administration overstepped its authority by imposing these duties after relevant statutory deadlines had expired.
The Supreme Court's decision not to hear the government's appeal effectively ends the dispute, validating the importer's long-held position. This ruling delivers a significant blow to the architecture of those particular trade measures and sets a consequential precedent. It reinforces legal limits on executive power in trade policy and offers a pathway for other companies that paid the contested duties to potentially seek refunds, marking a substantial shift in the post-tariff landscape for international trade.
July 8, 2026 - 04:18
State Establishes NC Economic Forecasting Initiative at UNC Kenan-Flagler Business SchoolThe North Carolina General Assembly has set aside $3 million to create the North Carolina Economic Forecasting Initiative, or NCEFI. The money, drawn from the state budget for the 2026-27 fiscal...
July 7, 2026 - 11:46
Richmond business owner speaks on impact of train derailmentA local business owner in Richmond is speaking out about the real-world consequences of Friday`s train derailment, describing a ripple effect that has disrupted daily operations and shaken the...
July 6, 2026 - 18:27
George Johnson, pioneering Black entrepreneur, dies at 99George Johnson, the entrepreneur who built a hair-care empire that became the first Black-owned company listed on the American Stock Exchange, has died at the age of 99. Johnson`s death was...
July 6, 2026 - 11:56
BUSINESS MONDAY: Spotlight on West Side Clock Shop in PittsfieldFor over six decades, a family-run business in Pittsfield has been quietly keeping the community on schedule. West Side Clock Shop, a fixture on the city`s west side, has spent 66 years selling,...