Lunch Wrap: ASX lifts and miners bounce back after tariff de-escalation
ASX edges higher as tariff de-escalation pushes miners higher

Oil wobbles on OPEC supply ramp-up talk

ResMed says Trumps' tariffs won't apply to its products
The ASX lifted again on Thursday morning, with the ASX 200 climbing 0.5% by lunchtime, AEST.
Not a thumping rally, but enough to keep the mood upbeat.
Investors seemed to breathe a little easier as whispers emerged from Washington that President Trump might be looking to ease those monster 145% tariffs on China.
Word is, they could be dialled back to somewhere between 50% and 65%. Nothing official, but it was enough to give Wall Street a jolt overnight.
The S&P 500 hit a two-week high, Nasdaq surged 2.5%, while the Dow had a crack at a 400-point gain.
Tesla jumped nearly 6% after Elon Musk promised to actually spend more time running the company, instead of moonlighting at DOGE.
Intel, meanwhile, is swinging the axe, with plans to cut over 20% of its headcount as it tries to get back to its engineering roots.
The chip giant's been wobbling a bit lately, and the new boss, Lip-Bu Tan, reckons it's time for a clean-out and he's not mucking around.
In other markets, Brent is hovering around a two-week low as rumours grow that OPEC+ might open the taps further.
Concerns also still remain for the oil market that this whole tit-for-tat tariff drama could dent energy demand, especially if it drags on.
Back home, most of the big lift came from the miners this morning.
Gold stocks, which faced a bloodbath on Wednesday, bounced back strongly. Emerald Resources (ASX:EMR) and Newmont Corporation (ASX:NEM) clawed back 4%.
Iron ore names like BHP (ASX:BHP) and Fortescue (ASX:FMG) also rallied, helped by the iron ore price popping back above US$100 a tonne.
In large caps news, Kathleen Valley lithium mine operator Liontown Resources (ASX:LTR) gained 3% after reporting a solid 17% lift in March quarter revenue.
Resolute Mining (ASX:RSG) said its gold production and sales dipped during the March quarter, down to 75,497 ounces and 64,322 ounces respectively, though it insists it's still on track to hit its full-year guidance.
And, Generation Development Group (ASX:GDG), headed by former Olympics champ Grant Hackett, crashed 17% despite growing its asset base in the March quarter. Looks like the market expected more from its first quarter as an ASX 200 club member.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for April 24 :
Security Description Last % Volume MktCap
M2R Miramar 0.004 100% 14,698,944 $1,993,647
EEL Enrg Elements Ltd 0.002 50% 1,500,000 $3,253,779
RAN Range International 0.003 50% 333,334 $1,878,581
PPY Papyrus Australia 0.011 38% 13,750 $4,565,454
ACS Accent Resources NL 0.008 33% 60,000 $2,838,764
BNL Blue Star Helium Ltd 0.008 33% 1,473,566 $16,169,312
RDS Redstone Resources 0.004 33% 2,618,087 $2,776,135
CUS Coppersearchlimited 0.022 29% 180,006 $2,017,456
RFA Rare Foods Australia 0.009 29% 485,766 $1,903,883
GCM Green Critical Min 0.012 28% 29,194,954 $17,655,105
KNI Kunikolimited 0.175 25% 135,330 $12,169,398
FHS Freehill Mining Ltd. 0.005 25% 1,905,216 $12,314,111
TAR Taruga Minerals 0.011 22% 1,330,000 $6,354,241
PDN Paladin Energy Ltd 4.850 22% 5,257,867 $1,587,861,950
BMG BMG Resources Ltd 0.012 20% 1,298,293 $8,383,972
JLL Jindalee Lithium Ltd 0.285 19% 295,832 $17,662,044
ABE Ausbondexchange 0.039 18% 218,181 $3,718,048
AGE Alligator Energy 0.028 17% 14,454,597 $92,966,384
AKN Auking Mining Ltd 0.007 17% 429,095 $3,448,673
SPX Spenda Limited 0.007 17% 175,201 $27,691,293
TEG Triangle Energy Ltd 0.004 17% 5,600,699 $6,267,702
TOE Toro Energy Limited 0.225 15% 1,033,453 $23,454,960
AEE Aura Energy 0.115 15% 781,040 $89,074,814
CU6 Clarity Pharma 2.055 14% 1,448,202 $580,039,660
Gold Mountain (ASX:GMN) has been poking around its Ararenda Project in northeast Brazil, and reckons it's onto something big. Early test results from stream sediment samples show some chunky copper-gold anomalies stretching across 20 kilometres, which line up with a known mineralised zone nearby. It's sniffing out signs of a large IOCG-style system and with more results on the way, the company said it's keen to drill.
Pursuit Minerals (ASX:PUR) released its quarterlies today. The company said during the quarter, it's been busy at its Rio Grande Sur lithium project over in Argentina, which is starting to hit some solid milestones. The company fired up its lithium carbonate pilot plant in Salta and produced its first batch from synthetic brine. Pursuit is also rolling out a staged production plan aiming for over 15,000 tonnes a year, and the numbers from its recent resource upgrade are feeding straight into the feasibility study due out in the first half of 2025.
Forbidden Foods (ASX:FFF) is finding its groove after snapping up Oat Milk Goodness, with March racking up its best sales month since the new crew took over. Net sales hit $1.1 million for the quarter, more than double what it was this time last year, and online orders are still climbing. Costco's placed another chunky order – its biggest yet – and the company is building up stock to keep pace with demand.
Sabre Resources (ASX:SBR) is offloading its Ninghan Gold Project to Capricorn Metals in a deal worth $1.6 million, with most of the payment coming in Capricorn shares. It's pocketed a $100k deposit and could score up to $1.75 million more down the track if Capricorn kicks off drilling, confirms a decent gold resource, and gives the green light to mine. Sabre's also keeping a small royalty on any gold dug up.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for April 24 :
Code Name Price % Change Volume Market Cap
88E 88 Energy Ltd 0.001 -33% 6,981,035 $43,400,718
FTC Fintech Chain Ltd 0.004 -33% 583,050 $3,904,618
T3D 333D Limited 0.006 -25% 22,222 $1,409,468
NGX Ngxlimited 0.100 -20% 73,985 $11,326,480
CTN Catalina Resources 0.002 -20% 776,798 $4,159,399
FAU First Au Ltd 0.002 -20% 58,227 $5,179,983
LML Lincoln Minerals 0.004 -20% 2,665 $10,512,849
VFX Visionflex Group Ltd 0.002 -20% 5,000,000 $8,419,651
TRP Tissue Repair 0.205 -18% 628,015 $15,116,211
CTT Cettire 0.540 -18% 5,388,646 $249,711,034
KPO Kalina Power Limited 0.005 -17% 5,315,165 $17,365,318
SHP South Harz Potash 0.005 -17% 72,000 $6,495,472
REE Rarex Limited 0.032 -16% 14,943,330 $30,432,142
8CO 8Common Limited 0.017 -15% 6,695 $4,481,898
IR1 Irismetals 0.135 -14% 300,698 $26,926,103
AAU Antilles Gold Ltd 0.003 -14% 100,000 $7,442,287
CLA Celsius Resource Ltd 0.006 -14% 1,907,211 $20,352,998
FFF Forbidden Foods 0.006 -14% 5,514,266 $4,984,714
HHR Hartshead Resources 0.006 -14% 3,226,541 $19,660,775
ODE Odessa Minerals Ltd 0.006 -14% 6,993 $11,196,728
W2V Way2Vatltd 0.006 -14% 350,000 $6,538,001
OBM Ora Banda Mining Ltd 1.030 -14% 5,855,173 $2,250,645,829
C1X Cosmosexploration 0.074 -13% 13,378 $8,794,661
AGD Austral Gold 0.061 -13% 95,141 $42,861,795
Motor-sports cooling system specialist, PWR (ASX:PWH), took a 5% hit after announcing that founder and CEO Kees Weel is stepping back temporarily to focus on his health. While Weel will still be involved in steering the company's direction, day-to-day operations are now in the hands of the executive leadership team, with Matthew Bryson stepping in as acting CEO.
IN CASE YOU MISSED IT
Hillgrove Resources (ASX:HGO) has mobilised contractors, equipment, and labour to fast-track development of the Nugent decline at its Kanmantoo site, with first ore on track for processing in the December 2025 quarter. This milestone marks the start of Stage 1 in the company's 12-month production ramp-up strategy.
EU-funded geophysical exploration has kicked off at Latitude 66 (ASX:LAT) flagship KSB Project in Finland's Kuusamo Schist Belt, as part of the €5 million UNDERCOVER initiative led by the Geological Survey of Finland (GTK). Backed by Horizon Europe, the three-year project aims to advance deep exploration for critical raw materials using innovative and environmentally friendly techniques.
At Stockhead, we tell it like it is. While Hillgrove Resources and Latitude 66 are Stockhead advertisers, they did not sponsor this article.
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The Advertiser
4 minutes ago
- The Advertiser
Donald Trump says Elon Musk ‘went crazy' over US EV subsidy cuts
The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from: The relationship between the world's richest man and the leader of the United States has rapidly and publicly deteriorated, and the latter says a dispute over electric vehicle (EV) subsidies is at the heart of it. "Elon [Musk] was "wearing thin," I asked him to leave. I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" US President Donald Trump posted on his social media network Truth Social earlier today. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts. I was always surprised that Biden didn't do it!" President Trump's social media posts came shortly after Tesla CEO Elon Musk took to his own social media platform X overnight to oppose a piece of legislation the president is trying to have passed in Congress. He called on legislators to "kill the bill" that he said will grow the country's deficit to US$2.5 trillion (~A$3.85 trillion). After President Trump's Truth Social rebuttal, Mr Musk posted: "Such an obvious lie. So sad.". Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The Tesla CEO, who last Friday completed his term as a special government employee leading massive cost-cutting initiatives across the government, also re-shared a clip of himself from 2021 calling for EV subsidies to be scrapped, along with subsidies for oil and gas companies. He reiterated this earlier today, arguing President Trump's Republican party should "keep the EV/solar incentive cuts in the bill, even though no oil and gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill". Buyers of new EVs in the US can currently receive a full tax credit of US$7500 (A$11,550), provided the vehicles meet certain battery component requirements. Should the One Big Beautiful Bill Act pass in its current form, this tax credit – which depending on buyers' incomes, applies to certain Tesla Model 3, Model Y and Cybertruck vehicles – will be repealed. The drama has continued to unfold in the media and on X, with Mr Musk accusing President Trump of being in the Epstein Files – referring to files on deceased financier and sex trafficker Jeffrey Epstein – and appearing to support the impeachment of the president and the formation of a new political party. But looking back to the EV subsidies, which are much more pertinent to an automotive website, and finance institution JP Morgan said in a note to clients on Thursday that it estimated the loss of the EV tax credit could cost Tesla around US$1.2 billion (~A$1.85bn) annually. The public feud has already corresponded with an almost 15 per cent fall in the Tesla share price, wiping around US$150 billion (~A$231bn) from its value – the biggest hit to its market cap ever, pushing it below the US$1 trillion (~A$1.54 trillion) mark. This comes after Tesla's financials have also taken a hit. In the first three months of 2025, Tesla posted an operating income of US$399 million (A$624 million), down 66 per cent on the first quarter of 2024. Mr Musk also said earlier this month the success of Tesla can be measured by its stock value, not its sales figures, which he used as evidence showing the automaker's difficulties have already been overcome despite well-publicised declines. "Our sales our doing very well at this point; we don't anticipate any sales shortfall, and – you know – honestly, the stock market recognises that, we're now back over US$1 trillion [A$1.54 trillion] in market cap, so clearly the market is aware of the situation," he said. Following the US election, Tesla stock prices reached record highs of almost US$480 per share, however, this then dropped to about US$220 before recently starting to rise once again. At market close on Thursday, shares were sitting at US$284.70 (A$438). "We've lost some sales on the left, but we've gained them on the right – we see no problem with demand," said Mr Musk in May. Tesla has posted declines in markets including China and Australia in recent months. Perhaps the most worrying sign for Tesla is in Europe, where its sales plunged by 38.8 per cent when comparing January to April 2025 with the same period last year, according to data from the European Automobile Manufacturers Association. The only brands to post a bigger decline were Lancia/Chrysler, Smart and Jaguar. Content originally sourced from:
The Advertiser
4 minutes ago
- The Advertiser
Judge blocks Trump's Harvard international students ban
A federal judge has temporarily blocked President Donald Trump from barring US entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. Under a two-page temporary restraining order granted to Harvard, US District Judge Allison Burroughs on Thirsday enjoined Trump's proclamation from taking effect pending further litigation of the matter amid an escalating dispute between the Ivy League school and Republican president. The judge ruled Trump's directive prohibiting foreign nationals from entering the United States to study at Harvard for the next six months would cause "immediate and irreparable injury" before the courts have a chance to review the case. Burroughs in May had blocked Trump from implementing a separate order prohibiting Harvard from enrolling international students, who make up more than a quarter of its student body. Harvard on Thursday amended its lawsuit to challenge the new directive, claiming Trump is violating Burroughs' decision. "The Proclamation denies thousands of Harvard's students the right to come to this country to pursue their education and follow their dreams, and it denies Harvard the right to teach them. Without its international students, Harvard is not Harvard," the school said in the filing. Burroughs' order on Thursday also continued a separate temporary restraining order she issued on May 23 against the administration's restriction on international student enrolment at Harvard. Earlier on Thursday, White House spokesperson Abigail Jackson called Harvard "a hotbed of anti-American, anti-Semitic, pro-terrorist agitators," claims that the school has previously denied. "Harvard's behaviour has jeopardised the integrity of the entire US student and exchange visitor visa system and risks compromising national security. Now it must face the consequences of its actions," Jackson said in a statement. Trump cited national security concerns as justification for barring international students from entering the US to pursue studies at the Cambridge, Massachusetts-based university. Under Trump's proclamation, the suspension would initially be for six months but could be extended. Trump's order also directed the US State Department to consider revoking academic or exchange visas of any current Harvard students who meet his proclamation's criteria. In Thursday's court filing, Harvard said Trump had violated federal law by failing to back up his claims about national security. "The Proclamation does not deem the entry of an alien or class of aliens to be detrimental to the interests of the United States, because non-citizens who are impacted by the Proclamation can enter the United States — just so long as they go somewhere other than Harvard," the school said. The Trump administration has launched a multi-front attack on the nation's oldest and wealthiest university, freezing billions of dollars in grants and other funding and proposing to end its tax-exempt status, prompting a series of legal challenges. Harvard argues the administration is retaliating against it for refusing to accede to demands to control the school's governance, curriculum and the ideology of its faculty and students. A federal judge has temporarily blocked President Donald Trump from barring US entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. Under a two-page temporary restraining order granted to Harvard, US District Judge Allison Burroughs on Thirsday enjoined Trump's proclamation from taking effect pending further litigation of the matter amid an escalating dispute between the Ivy League school and Republican president. The judge ruled Trump's directive prohibiting foreign nationals from entering the United States to study at Harvard for the next six months would cause "immediate and irreparable injury" before the courts have a chance to review the case. Burroughs in May had blocked Trump from implementing a separate order prohibiting Harvard from enrolling international students, who make up more than a quarter of its student body. Harvard on Thursday amended its lawsuit to challenge the new directive, claiming Trump is violating Burroughs' decision. "The Proclamation denies thousands of Harvard's students the right to come to this country to pursue their education and follow their dreams, and it denies Harvard the right to teach them. Without its international students, Harvard is not Harvard," the school said in the filing. Burroughs' order on Thursday also continued a separate temporary restraining order she issued on May 23 against the administration's restriction on international student enrolment at Harvard. Earlier on Thursday, White House spokesperson Abigail Jackson called Harvard "a hotbed of anti-American, anti-Semitic, pro-terrorist agitators," claims that the school has previously denied. "Harvard's behaviour has jeopardised the integrity of the entire US student and exchange visitor visa system and risks compromising national security. Now it must face the consequences of its actions," Jackson said in a statement. Trump cited national security concerns as justification for barring international students from entering the US to pursue studies at the Cambridge, Massachusetts-based university. Under Trump's proclamation, the suspension would initially be for six months but could be extended. Trump's order also directed the US State Department to consider revoking academic or exchange visas of any current Harvard students who meet his proclamation's criteria. In Thursday's court filing, Harvard said Trump had violated federal law by failing to back up his claims about national security. "The Proclamation does not deem the entry of an alien or class of aliens to be detrimental to the interests of the United States, because non-citizens who are impacted by the Proclamation can enter the United States — just so long as they go somewhere other than Harvard," the school said. The Trump administration has launched a multi-front attack on the nation's oldest and wealthiest university, freezing billions of dollars in grants and other funding and proposing to end its tax-exempt status, prompting a series of legal challenges. Harvard argues the administration is retaliating against it for refusing to accede to demands to control the school's governance, curriculum and the ideology of its faculty and students. A federal judge has temporarily blocked President Donald Trump from barring US entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. Under a two-page temporary restraining order granted to Harvard, US District Judge Allison Burroughs on Thirsday enjoined Trump's proclamation from taking effect pending further litigation of the matter amid an escalating dispute between the Ivy League school and Republican president. The judge ruled Trump's directive prohibiting foreign nationals from entering the United States to study at Harvard for the next six months would cause "immediate and irreparable injury" before the courts have a chance to review the case. Burroughs in May had blocked Trump from implementing a separate order prohibiting Harvard from enrolling international students, who make up more than a quarter of its student body. Harvard on Thursday amended its lawsuit to challenge the new directive, claiming Trump is violating Burroughs' decision. "The Proclamation denies thousands of Harvard's students the right to come to this country to pursue their education and follow their dreams, and it denies Harvard the right to teach them. Without its international students, Harvard is not Harvard," the school said in the filing. Burroughs' order on Thursday also continued a separate temporary restraining order she issued on May 23 against the administration's restriction on international student enrolment at Harvard. Earlier on Thursday, White House spokesperson Abigail Jackson called Harvard "a hotbed of anti-American, anti-Semitic, pro-terrorist agitators," claims that the school has previously denied. "Harvard's behaviour has jeopardised the integrity of the entire US student and exchange visitor visa system and risks compromising national security. Now it must face the consequences of its actions," Jackson said in a statement. Trump cited national security concerns as justification for barring international students from entering the US to pursue studies at the Cambridge, Massachusetts-based university. Under Trump's proclamation, the suspension would initially be for six months but could be extended. Trump's order also directed the US State Department to consider revoking academic or exchange visas of any current Harvard students who meet his proclamation's criteria. In Thursday's court filing, Harvard said Trump had violated federal law by failing to back up his claims about national security. "The Proclamation does not deem the entry of an alien or class of aliens to be detrimental to the interests of the United States, because non-citizens who are impacted by the Proclamation can enter the United States — just so long as they go somewhere other than Harvard," the school said. The Trump administration has launched a multi-front attack on the nation's oldest and wealthiest university, freezing billions of dollars in grants and other funding and proposing to end its tax-exempt status, prompting a series of legal challenges. Harvard argues the administration is retaliating against it for refusing to accede to demands to control the school's governance, curriculum and the ideology of its faculty and students. A federal judge has temporarily blocked President Donald Trump from barring US entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. Under a two-page temporary restraining order granted to Harvard, US District Judge Allison Burroughs on Thirsday enjoined Trump's proclamation from taking effect pending further litigation of the matter amid an escalating dispute between the Ivy League school and Republican president. The judge ruled Trump's directive prohibiting foreign nationals from entering the United States to study at Harvard for the next six months would cause "immediate and irreparable injury" before the courts have a chance to review the case. Burroughs in May had blocked Trump from implementing a separate order prohibiting Harvard from enrolling international students, who make up more than a quarter of its student body. Harvard on Thursday amended its lawsuit to challenge the new directive, claiming Trump is violating Burroughs' decision. "The Proclamation denies thousands of Harvard's students the right to come to this country to pursue their education and follow their dreams, and it denies Harvard the right to teach them. Without its international students, Harvard is not Harvard," the school said in the filing. Burroughs' order on Thursday also continued a separate temporary restraining order she issued on May 23 against the administration's restriction on international student enrolment at Harvard. Earlier on Thursday, White House spokesperson Abigail Jackson called Harvard "a hotbed of anti-American, anti-Semitic, pro-terrorist agitators," claims that the school has previously denied. "Harvard's behaviour has jeopardised the integrity of the entire US student and exchange visitor visa system and risks compromising national security. Now it must face the consequences of its actions," Jackson said in a statement. Trump cited national security concerns as justification for barring international students from entering the US to pursue studies at the Cambridge, Massachusetts-based university. Under Trump's proclamation, the suspension would initially be for six months but could be extended. Trump's order also directed the US State Department to consider revoking academic or exchange visas of any current Harvard students who meet his proclamation's criteria. In Thursday's court filing, Harvard said Trump had violated federal law by failing to back up his claims about national security. "The Proclamation does not deem the entry of an alien or class of aliens to be detrimental to the interests of the United States, because non-citizens who are impacted by the Proclamation can enter the United States — just so long as they go somewhere other than Harvard," the school said. The Trump administration has launched a multi-front attack on the nation's oldest and wealthiest university, freezing billions of dollars in grants and other funding and proposing to end its tax-exempt status, prompting a series of legal challenges. Harvard argues the administration is retaliating against it for refusing to accede to demands to control the school's governance, curriculum and the ideology of its faculty and students.
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Trump, Musk to hold call after public feud: report
White House aides have reportedly scheduled a call between Donald Trump and Elon Musk after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the US president should be impeached. Politico reported the call on Friday could ease the feuding after an extraordinary day of hostilities - largely conducted over social media - that marked a stark end to a close alliance. The verbal punches erupted on Thursday after Trump criticised Musk in the Oval Office and the pair then traded barbs on their social media platforms: Trump's Truth Social and Musk's X. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump posted on Truth Social. "I was always surprised that Biden didn't do it!" Shares in Musk's Tesla closed down over 14 per cent on Thursday, losing about $US150 billion in market value in the largest single-day decline in value in its history. Minutes after the closing bell, Musk replied, "Yes," to a post on X saying Trump should be impeached. Trump's Republicans hold majorities in both chambers of Congress and are highly unlikely to impeach him. Musk earlier said on X that Trump is mentioned in still-secret Justice Department files related to Jeffrey Epstein and he suggested that was why the records have not been released. Musk provided no support for the claim, but it came amid a spectacular and public disintegration of his once-close relationship with Trump. The trouble between the two started brewing days ago, when Musk denounced Trump's sweeping tax-cut and spending bill. The president initially held his tongue while Musk campaigned to torpedo the bill, saying it would add too much to the nation's $US36.2 trillion ($A55.6 trillion) in debt. Trump broke his silence on Thursday, telling reporters in the Oval Office he was "very disappointed" in Musk. "Look, Elon and I had a great relationship. I don't know if we will anymore," Trump said. While Trump spoke, Musk responded with increasingly acerbic posts on X. "Without me, Trump would have lost the election," wrote Musk, who spent nearly $US300 million ($A460 million) backing Trump and other Republicans in the 2024 election. "Such ingratitude." In another post, Musk asserted that Trump's signature tariffs would push the United States into a recession later in 2025. The feud was not entirely unexpected. Trump and Musk are both political pugilists with sizeable egos and a penchant for using social media to punch back against their perceived enemies, and many observers had predicted an eventual falling out. Even before Musk's departure from the administration last week, his influence had waned following a series of clashes with cabinet members over his cuts to their agencies. For Trump, the fight was the first major rift he has had with a top adviser since taking office for a second time, after his first term was marked by numerous blow-ups After serving as the biggest Republican donor in the 2024 campaign season, Musk became one of Trump's most visible advisers as head of the Department of Government Efficiency, which mounted a sweeping and controversial effort to downsize the federal workforce and slash spending. Musk was frequently present at the White House and made multiple appearances on Capitol Hill, sometimes carrying his young son. with AP White House aides have reportedly scheduled a call between Donald Trump and Elon Musk after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the US president should be impeached. Politico reported the call on Friday could ease the feuding after an extraordinary day of hostilities - largely conducted over social media - that marked a stark end to a close alliance. The verbal punches erupted on Thursday after Trump criticised Musk in the Oval Office and the pair then traded barbs on their social media platforms: Trump's Truth Social and Musk's X. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump posted on Truth Social. "I was always surprised that Biden didn't do it!" Shares in Musk's Tesla closed down over 14 per cent on Thursday, losing about $US150 billion in market value in the largest single-day decline in value in its history. Minutes after the closing bell, Musk replied, "Yes," to a post on X saying Trump should be impeached. Trump's Republicans hold majorities in both chambers of Congress and are highly unlikely to impeach him. Musk earlier said on X that Trump is mentioned in still-secret Justice Department files related to Jeffrey Epstein and he suggested that was why the records have not been released. Musk provided no support for the claim, but it came amid a spectacular and public disintegration of his once-close relationship with Trump. The trouble between the two started brewing days ago, when Musk denounced Trump's sweeping tax-cut and spending bill. The president initially held his tongue while Musk campaigned to torpedo the bill, saying it would add too much to the nation's $US36.2 trillion ($A55.6 trillion) in debt. Trump broke his silence on Thursday, telling reporters in the Oval Office he was "very disappointed" in Musk. "Look, Elon and I had a great relationship. I don't know if we will anymore," Trump said. While Trump spoke, Musk responded with increasingly acerbic posts on X. "Without me, Trump would have lost the election," wrote Musk, who spent nearly $US300 million ($A460 million) backing Trump and other Republicans in the 2024 election. "Such ingratitude." In another post, Musk asserted that Trump's signature tariffs would push the United States into a recession later in 2025. The feud was not entirely unexpected. Trump and Musk are both political pugilists with sizeable egos and a penchant for using social media to punch back against their perceived enemies, and many observers had predicted an eventual falling out. Even before Musk's departure from the administration last week, his influence had waned following a series of clashes with cabinet members over his cuts to their agencies. For Trump, the fight was the first major rift he has had with a top adviser since taking office for a second time, after his first term was marked by numerous blow-ups After serving as the biggest Republican donor in the 2024 campaign season, Musk became one of Trump's most visible advisers as head of the Department of Government Efficiency, which mounted a sweeping and controversial effort to downsize the federal workforce and slash spending. Musk was frequently present at the White House and made multiple appearances on Capitol Hill, sometimes carrying his young son. with AP White House aides have reportedly scheduled a call between Donald Trump and Elon Musk after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the US president should be impeached. Politico reported the call on Friday could ease the feuding after an extraordinary day of hostilities - largely conducted over social media - that marked a stark end to a close alliance. The verbal punches erupted on Thursday after Trump criticised Musk in the Oval Office and the pair then traded barbs on their social media platforms: Trump's Truth Social and Musk's X. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump posted on Truth Social. "I was always surprised that Biden didn't do it!" Shares in Musk's Tesla closed down over 14 per cent on Thursday, losing about $US150 billion in market value in the largest single-day decline in value in its history. Minutes after the closing bell, Musk replied, "Yes," to a post on X saying Trump should be impeached. Trump's Republicans hold majorities in both chambers of Congress and are highly unlikely to impeach him. Musk earlier said on X that Trump is mentioned in still-secret Justice Department files related to Jeffrey Epstein and he suggested that was why the records have not been released. Musk provided no support for the claim, but it came amid a spectacular and public disintegration of his once-close relationship with Trump. The trouble between the two started brewing days ago, when Musk denounced Trump's sweeping tax-cut and spending bill. The president initially held his tongue while Musk campaigned to torpedo the bill, saying it would add too much to the nation's $US36.2 trillion ($A55.6 trillion) in debt. Trump broke his silence on Thursday, telling reporters in the Oval Office he was "very disappointed" in Musk. "Look, Elon and I had a great relationship. I don't know if we will anymore," Trump said. While Trump spoke, Musk responded with increasingly acerbic posts on X. "Without me, Trump would have lost the election," wrote Musk, who spent nearly $US300 million ($A460 million) backing Trump and other Republicans in the 2024 election. "Such ingratitude." In another post, Musk asserted that Trump's signature tariffs would push the United States into a recession later in 2025. The feud was not entirely unexpected. Trump and Musk are both political pugilists with sizeable egos and a penchant for using social media to punch back against their perceived enemies, and many observers had predicted an eventual falling out. Even before Musk's departure from the administration last week, his influence had waned following a series of clashes with cabinet members over his cuts to their agencies. For Trump, the fight was the first major rift he has had with a top adviser since taking office for a second time, after his first term was marked by numerous blow-ups After serving as the biggest Republican donor in the 2024 campaign season, Musk became one of Trump's most visible advisers as head of the Department of Government Efficiency, which mounted a sweeping and controversial effort to downsize the federal workforce and slash spending. Musk was frequently present at the White House and made multiple appearances on Capitol Hill, sometimes carrying his young son. with AP White House aides have reportedly scheduled a call between Donald Trump and Elon Musk after a huge public spat that saw threats fly over government contracts and ended with the world's richest man suggesting the US president should be impeached. Politico reported the call on Friday could ease the feuding after an extraordinary day of hostilities - largely conducted over social media - that marked a stark end to a close alliance. The verbal punches erupted on Thursday after Trump criticised Musk in the Oval Office and the pair then traded barbs on their social media platforms: Trump's Truth Social and Musk's X. "The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts," Trump posted on Truth Social. "I was always surprised that Biden didn't do it!" Shares in Musk's Tesla closed down over 14 per cent on Thursday, losing about $US150 billion in market value in the largest single-day decline in value in its history. Minutes after the closing bell, Musk replied, "Yes," to a post on X saying Trump should be impeached. Trump's Republicans hold majorities in both chambers of Congress and are highly unlikely to impeach him. Musk earlier said on X that Trump is mentioned in still-secret Justice Department files related to Jeffrey Epstein and he suggested that was why the records have not been released. Musk provided no support for the claim, but it came amid a spectacular and public disintegration of his once-close relationship with Trump. The trouble between the two started brewing days ago, when Musk denounced Trump's sweeping tax-cut and spending bill. The president initially held his tongue while Musk campaigned to torpedo the bill, saying it would add too much to the nation's $US36.2 trillion ($A55.6 trillion) in debt. Trump broke his silence on Thursday, telling reporters in the Oval Office he was "very disappointed" in Musk. "Look, Elon and I had a great relationship. I don't know if we will anymore," Trump said. While Trump spoke, Musk responded with increasingly acerbic posts on X. "Without me, Trump would have lost the election," wrote Musk, who spent nearly $US300 million ($A460 million) backing Trump and other Republicans in the 2024 election. "Such ingratitude." In another post, Musk asserted that Trump's signature tariffs would push the United States into a recession later in 2025. The feud was not entirely unexpected. Trump and Musk are both political pugilists with sizeable egos and a penchant for using social media to punch back against their perceived enemies, and many observers had predicted an eventual falling out. Even before Musk's departure from the administration last week, his influence had waned following a series of clashes with cabinet members over his cuts to their agencies. For Trump, the fight was the first major rift he has had with a top adviser since taking office for a second time, after his first term was marked by numerous blow-ups After serving as the biggest Republican donor in the 2024 campaign season, Musk became one of Trump's most visible advisers as head of the Department of Government Efficiency, which mounted a sweeping and controversial effort to downsize the federal workforce and slash spending. Musk was frequently present at the White House and made multiple appearances on Capitol Hill, sometimes carrying his young son. with AP
