
How US Universities Became So Vulnerable to Government Threats
No school is immune. From community colleges and for-profit institutions to the Ivy League and the Big Ten, the loss of Washington's dollars would decimate or seriously damage most colleges and universities. Without that money — primarily for scientific research and student aid — higher education would be unlikely to survive in its current form. Even the MAGA juggernaut's other weapons, like banning foreign students or withdrawing accreditation, have financial consequences.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Trump tariffs split Japan Inc as Toyota cuts forecast while Sony, Honda raise
By Daniel Leussink and Sam Nussey TOKYO (Reuters) -U.S. President Donald Trump's tariffs are cleaving Japan Inc, as some big exporters like Toyota Motor slash their profit forecasts while Sony and Honda are among those saying the impact will be less than they had feared. As Trump's levies on global shipments into the U.S. kicked in on Thursday, Japan's top companies offered a mixed picture of the impact of his signature economic policy and of the stronger yen on his country's fifth-largest trading partner. Uncertainty over the tariffs and their erratic implementation have unnerved companies globally as governments work feverishly to strike deals and avert a crisis for their big exporters. While glimmers of optimism have emerged for Japanese companies, the outlook remains overshadowed by uncertainty over when Trump will lower his tariffs on Japanese automobiles and new questions about duties on pharmaceuticals and semiconductors. A Trump broadside on semiconductors, with 100% tariffs on some chip imports to the U.S., hit Japanese chip supply-chain firms on Thursday, while shares of companies elsewhere with U.S. expansion plans jumped. Tokyo urged Washington on Thursday to swiftly implement last month's bilateral agreement lowering tariffs on U.S. imports of Japanese cars to 15% from the 27.5% in total levies in place since Trump raised tariffs in April. Two weeks after Trump announced the deal, which he said included $550 billion in Japanese investment and loans in the U.S., Tokyo is scrambling to clarify specifics, complicating business planning for the nation's biggest firms. 'DIFFICULT TO PREDICT' "It's honestly very difficult for us to predict what will happen regarding the market environment," Takanori Azuma, head of finance for Toyota, the world's biggest automaker, said on Thursday. Toyota cut its operating-profit forecast for the business year to March by 16% to 1.4 trillion yen ($9.5 billion), citing the tariffs and the yen. The company will keep making cars for U.S. customers regardless of any impact from the tariffs, Azuma told a briefing on the business results. 'Even at this point, incentives are very low and inventory is limited, so many customers are waiting. That's true not only in the U.S., but also in Japan." Japan's carmakers are among the hardest hit in the trade war as they resist raising prices, squeezing their profit margins. In contrast to Toyota, Sony raised its full-year profit forecast by 4% to 1.33 trillion yen ($9 billion), with the impact from U.S. tariffs now expected to be 70 billion yen, down from the 100 billion yen it forecast in May. Subaru Corp said the tariff impact on its vehicles has been reduced but remains significant. MADE IN USA EXEMPTION Toyota shares fell 1.5%, while Sony jumped 4.1% and Subaru rose 2.6%. Honda on Wednesday cut its expected tariff impact by 31% to 450 billion yen but said "there are still many unknowns". On chips, Trump offered a big exemption: the 100% tariff will not apply to companies that manufacture in the U.S. or have committed to do so. While Japan is the largest foreign investor in the United States at $819 billion at the end of 2024, according to U.S. government data, its chip industry has shied away from making big U.S. investments. Shares of Japan chip-making equipment maker Tokyo Electron fell 2.7% and chip-testing equipment maker Advantest dropped nearly 1% on Thursday. Chipmakers with big U.S. expansion plans, however, jumped, with Taiwan's TSMC up 5% and South Korea's Samsung rising 2.5%. Japan has said the U.S. agreed not to give it a worse tariff rate than other countries on semiconductors and pharmaceuticals. Tokyo ran a bilateral trade surplus of nearly $70 billion last year on U.S.-Japan trade of nearly $230 billion. ($1 = 147.3100 yen) (Reporting By Sam Nussey and Daniel Leussink in Tokyo; Writing by Anne Marie Roantree; Editing by Miyoung Kim and William Mallard)
Yahoo
3 minutes ago
- Yahoo
Govt: Any resolution to Ukraine war is welcome
Health Minister Karin Smyth says "any resolution" to the war in Ukraine would be "welcome", after the Kremlin announces U.S. President Donald Trump will meet his Russian counterpart Vladimir Putin "in the coming days".
Yahoo
3 minutes ago
- Yahoo
Trump claims ‘billions of dollars' now flowing into US after president's new tariffs come into effect
President Donald Trump declared that billions of dollars are 'flowing' into the U.S. just minutes before the president's new tariffs went into effect. Trump doubled down on his trade war last week, unveiling new rates between 10 and 41 percent on goods from more than 90 countries. After ordering a week-long delay on most tariffs just before his self-imposed deadline expired on August 1, the president's rates took effect just after midnight on Thursday. 'It's midnight!!!,' the president declared on Truth Social in block capitals at 11.58 p.m. on Wednesday. 'Billions of dollars in tariffs are now flowing into the United States of America.' About 15 minutes earlier, Trump appeared to relish imposing new duties on countries that he said 'have taken advantage' of the U.S. for years while 'laughing all the way.' Trump has repeatedly touted tariff revenues since he began ratcheting up import taxes on foreign goods on so-called 'Liberation Day' in April. Over the weekend, the president said that tariff revenues were bringing in 'much more money' into the U.S. than the 'country has ever seen.' Last month, the U.S. government collected almost $30 billion in tariff revenue, according to the Treasury Department – a 242 percent jump compared to last July. Since imposing an initial round of 10 percent baseline tariffs across most goods in April, the government has collected around $100 billion in tariff revenue, more than triple the amount collected over the same four-month period last year. While the White House believes the measures could reset the global trading order, some economists are more skeptical, warning that the levies have rattled financial markets and could leave U.S. consumers bearing the brunt of higher costs. U.S. Customs and Border Protection began collecting the higher tariffs one minute past midnight on Thursday after months of suspense and frantic negotiations with major trading partners. A 10 percent baseline rate was applied to countries that run a trade surplus with the U.S, including the United Kingdom and Australia. The new tariffs on U.S. imports begin at 15 percent – a rate faced by Bolivia, Iceland, and Nigeria, among many other nations. Other nations, like Taiwan, have a 20 percent tax applied to items exported to the U.S. Some of the highest new rates, reaching 50 percent, apply to imports from Brazil. Trump framed the duty as a punitive tax in response to the South American nation's decision to prosecute his political ally, former Brazilian President Jair Bolsonaro. India also faces a potential 50 percent tariff, as the U.S. pressures the nation to cease oil purchases from Russia. Trump has warned he could take similar action against other nations, using trade as an economic weapon to punish countries maintaining ties with Russia amid its ongoing offensive in Ukraine. Trump has yet to announce whether he will extend an August 12 deadline for reaching a trade agreement with China that would reinstall earlier threats of tariffs amounting to a staggering 245 percent. Some key U.S. trading partners brokered a deal – including the 27-member European Union trading bloc, Japan, and South Korea – cementing their tariffs at 15 to 20 percent. In a blow to Canada last Thursday, Trump signed an executive order raising tariffs on Canadian imports to 35 percent for goods deemed non-compliant with the U.S.-Mexico-Canada Agreement, citing Canada's failure to curb fentanyl smuggling across the border. The president announced earlier in the day that he would maintain a 25 percent tariff on Mexico for another 90 days following a phone call with President Claudia Sheinbaum. On Wednesday, Trump threatened to impose a 100 percent tariff on some semiconductors. He still plans to impose additional tariffs on foreign pharmaceutical products. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data