Harvard may pay $500 million to Trump administration in antisemitism case: Report
The sum would make the deal more than double the $200 million fine paid by Columbia University last week in a similar agreement that saw its federal funding reinstated.'Harvard wants to settle,' President Donald Trump told reporters on Friday, noting the Massachusetts-based Ivy League giant had shown signs of capitulation after witnessing Columbia's deal. 'But Columbia handled it better,' he added, suggesting Harvard may have misplayed its cards during the long-running dispute.'The bottom line is we're not going to give any more money to Harvard,' Trump said. 'We want to spread the wealth.'The Harvard university has faced scrutiny over accusations of failing to adequately respond to antisemitic incidents on campus, a claim Harvard has challenged in court.COLUMBIA SETTLES ANTISEMITISM PROBELast week, Columbia University announced that it has reached a deal with the Trump administration to pay more than $220 million to the federal government to restore federal research money that was cancelled in the name of combating antisemitism on campus.Under the agreement, the Ivy League school will pay a $200 million settlement over three years. It will also pay $21 million to resolve alleged civil rights violations against Jewish employees that occurred following the October 7, 2023, Hamas attack on Israel, the White House said.The Trump administration is investigating dozens of universities over allegations that they failed to address campus antisemitism amid the Israel-Hamas war, leading to federal funding freezes at several institutions.- EndsWith inputs from AgenciesMust Watch
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India Today
21 minutes ago
- India Today
Trump frustrated with India trade talks, sees 25% tariff as remedy: White House aide
US President Donald Trump is 'frustrated' with the progress of trade deal talks with India and believes that imposing a 25 per cent tariff will 'remedy' the situation. The tariff on Indian goods is set to take effect on August 1, after Washington and New Delhi failed to finalise an interim trade agreement before Trump's self-imposed August 1 deadline.'Well, India has had a market that's been pretty much closed to American products, and we've been wide open to theirs. And I think President Trump is frustrated with the progress we've made with India, but feels that a 25 per cent tariff will address and remedy the situation in a way that's good for the American people,' said White House economic adviser Kevin also announced an additional penalty, criticising India for its continued purchases of oil and military equipment from Russia. In a post on Truth Social, he wrote: 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!'The decision comes after the failure to reach an interim trade deal, with Trump reportedly dissatisfied with the outcomes secured by his negotiators. 'What's going to happen is that India is going to cut their prices to the US in order to maintain their market share,' Hassett added. 'Then they might reconsider their practices, which have led to this higher rate. And over time, I would guess the Indian firms will be onshoring production in the US, and Indians might even open their markets more to us, so that we reconsider a future trade deal.'INDIA'S RESPONSE TO TRUMP'S 25% TARIFFIn response, India's Ministry of Commerce and Industry stated that it is assessing the impact of the US move, but emphasised that national interest remains paramount. "The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,' the ministry reiterated its commitment to working toward a 'reciprocally advantageous trade agreement,' but with Trump escalating pressure tactics, the path forward remains uncertain.- Ends
Time of India
21 minutes ago
- Time of India
‘Won't let anyone attack the dollar': Trump says US in talks with India after 25% tariff bombshell
US President Donald Trump said that the United States is negotiating with India after announcing a sweeping 25% tariff on Indian imports starting August 1. Speaking to reporters, Trump said India has 'one of the highest tariffs in the world,' but signalled that New Delhi may be willing to 'substantially reduce tariffs' as talks continue. Show more Show less
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Business Standard
21 minutes ago
- Business Standard
Trump says US, India still negotiating after 25% US tariff threat
President Donald Trump said on Wednesday the United States is still negotiating with India on trade after announcing earlier in the day the US will impose a 25 per cent tariff on goods imported from the country starting on Friday. The 25 per cent tariff, as well as an unspecified penalty announced by Trump in a morning social media post, would strain relations with the world's most populous democracy. Later at the White House, the Republican president indicated there was wiggle room. "They have one of the highest tariffs in the world now, they're willing to cut it very substantially," Trump told reporters. "We're talking to India now - we'll see what happens ... You'll know by the end of this week." The 25 per cent figure would single out India more severely than other major trading partners, and threaten to unravel months of talks between the two countries, undermining a strategic partner of Washington's and a counterbalance to China. What the penalty would be was not clear. Trump indicated initially it was for India buying Russian arms and oil and its non-monetary trade barriers. When asked about the penalty at the White House, he said it was partly due to trade issues and partly because of India's involvement in the BRICS group of developing nations, which he described as hostile to the US Trump in July said the US will impose an additional 10 per cent tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS. The India announcement came as countries face a Friday deadline to reach deals on reciprocal tariffs or have a Trump-imposed tariff slapped on them. Trump on Wednesday signed a proclamation ordering 50 per cent tariffs on certain copper imports, citing national security, the White House said. The White House had previously warned India about its high average applied tariffs - nearly 39 per cent on agricultural products - with rates climbing to 45 per cent on vegetable oils and around 50 per cent on apples and corn. "While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump wrote in a Truth Social post. "They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE - ALL THINGS NOT GOOD!" In response to his Truth Social post, the Indian government said it was studying the implications of Trump's announcements and remained dedicated to securing a fair trade deal with the US "India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective," it said. Russia continued to be the top oil supplier to India during the first six months of 2025, making up 35 per cent of overall supplies. The United States, the world's largest economy, currently has a $45.7 billion trade deficit with India, the fifth largest. White House economic adviser Kevin Hassett said Trump has been frustrated with the progress of trade talks with India and believed the 25 per cent tariff announcement would help the situation. The new US tax on imports from India would be higher than on many other countries that struck deals with the Trump administration recently. Vietnam's tariff is set at 20 per cent and Indonesia's at 19 per cent, while the levy for Japan and the European Union is 15 per cent. "This is a major setback for Indian exporters, especially in sectors like textiles, footwear, and furniture, as the 25 per cent tariff will render them uncompetitive against rivals from Vietnam and China," said S.C. Ralhan, president of the Federation of Indian Export Organisation. US and Indian negotiators have held multiple rounds of discussions to resolve contentious issues, particularly over market access into India for US agricultural and dairy products. In its latest statement, India said it attached the utmost importance to protecting and promoting the welfare of its farmers, entrepreneurs, and small businesses. "The government will take all steps necessary to secure our national interest, as has been the case with other trade agreements," it said. The setback comes despite earlier commitments by Prime Minister Narendra Modi and Trump to conclude the first phase of a trade deal by autumn and expand bilateral trade to $500 billion by 2030, from $191 billion in 2024. Since India's short but deadly conflict with arch South Asian rival Pakistan, New Delhi has been unhappy about Trump's closeness with Islamabad and has protested, which cast a shadow over trade talks. "Politically, the relationship is in its toughest spot since the mid-1990s," said Ashok Malik, partner at advisory firm The Asia Group. "Trust has diminished. President Trump's messaging has damaged many years of careful, bipartisan nurturing of the US-India partnership in both capitals." Besides farm products access, the US had flagged concerns over India's increasingly burdensome import-quality requirements, among its many non-tariff barriers to foreign trade, in a report released in March. The new tariffs will impact Indian goods exports to the US, estimated at around $87 billion in 2024, including labour-intensive products such as garments, pharmaceuticals, gems and jewelry, and petrochemicals. (Reporting by Susan Heavey, Katharine Jackson in Washington, Manoj Kumar and Aftab Ahmed in New Delhi; editing by Doina Chiacu, Bernadette Baum, Mark Heinrich, Rod Nickel) (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
