Barackface: 16: Trade War And Tariffs

Wednesday, April 16, 2025

16: Trade War And Tariffs

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Why Harvard Decided to Fight Trump The Trump administration will freeze over $2 billion in federal funds because Harvard refused to comply with a list of demands. Harvard leaders believed saying no was worth the risk. ........ Then, late on Friday night, the federal government sent Harvard a five-page fusillade of new demands that would reshape the school’s operations, admissions, hiring, faculty and student life...... It took less than 72 hours for Harvard to say no.......... the government swiftly retaliated with a freeze of more than $2.2 billion in federal funding. Nearly $7 billion more remains imperiled, including money that goes to Harvard’s affiliated hospitals. And on Tuesday, Mr. Trump — who has picked out elite universities, long accused by conservatives of leaning left, as a special target — threatened Harvard’s tax-exempt status. ......... Even for the world’s richest university, which has an endowment of about $53 billion, a lasting freeze would cut deeply into labs, departments and even classrooms. But officials at Harvard elected to prize its reputation, independence and legacy, wagering that the institution could outlast Mr. Trump’s crusade. .......

“This is what Joe McCarthy was trying to do magnified ten- or 100-fold,” said Lawrence H. Summers, a former Harvard president, adding that “it runs directly against the university’s role in a free society.”

....... The polite opening paragraphs gave way to a range of demands so broad and intrusive that they stunned Harvard leaders ....... The government wanted Harvard to “immediately shutter” any programs related to diversity, equity and inclusion and to bring in an outsider to examine “those programs and departments that most fuel antisemitic harassment or reflect ideological capture.” ......... “The university will not surrender its independence or relinquish its constitutional rights.” ......... plunged Harvard into one of the gravest confrontations in its history. ........ The university imposed a hiring freeze in March and has sought to raise $1.2 billion in the bond market. Harvard also weighed adjustments to the $53 billion endowment’s payouts, just as it had done during the pandemic. ........

‘Simply Bad Business’: Corporate Gloom Rises Over Trump’s Tariffs Global markets are bouncing back, but a new survey of company chiefs finds that they’re on edge and are looking to cut back on investment. .......
“The tariff war will produce no winner,” Xi said.
......... Xi “can wait out the United States,” Nouriel Roubini, an economist and senior adviser at the hedge fund Hudson Bay Capital, told Bloomberg Television on Monday. “In the short term, China has a lot of leverage,” he added, including placing trade restrictions on companies like Apple and Tesla. ........ last week’s big loser — the dollar — was selling off again, hitting a six-month low and adding to U.S. importers’ concerns.