After Harvard, will Trump go after Columbia and Stanford? Speculation is rife as all three colleges rejected Barron
US president
Donald Trump
's administration is set to cancel all outstanding
federal contracts
with
Harvard University
, a move that could be worth an estimated $100 million to the Ivy League school, as per a report. But amidst the increasing threats by Trump, speculation is mounting that the US president's outrage may be less about politics and more about personal issues with elite schools, according to Irish Star.
Trump Administration to Cut Federal Contracts with Harvard
As per a draft letter, seen by the New York Times, several federal agencies have been ordered to "find alternative vendors" instead of Harvard for future services, reported Irish Star. This letter is set to be issued formally on Tuesday, according to the report.
US President Threatens Harvard University
The move follows Trump's threat on Truth Social on Monday, in which he said that his administration would shift $3 billion of federal grant funding over to
trade schools
, as per the report.
ALSO READ:
Banking restrictions? Trump to sanction Russia this week as Putin continues to attack Ukraine
He wrote, "I am considering taking Three Billion Dollars of Grant Money away from a very antisemitic Harvard, and giving it to TRADE SCHOOLS all across our land. What a great investment that would be for the USA, and so badly needed!!!" quoted Irish Star.
Live Events
Trump's rant did not end there, in a second post, he continued, "We are still waiting for the Foreign Student Lists from Harvard so that we can determine, after a ridiculous expenditure of BILLIONS OF DOLLARS, how many radicalized lunatics, troublemakers all, should not be let back into our Country," as quoted in the report.
The US president also mentioned that "Harvard is very slow in the presentation of these documents, and probably for good reason! The best thing Harvard has going for it is that they have shopped around and found the absolute best Judge (for them!) - But have no fear, the Government will, in the end, WIN!", quoted Irish Star.
Speculation on Donald Trump's Personal Motives Behind the Move
While the Trump administration has claimed that it is freezing federal grants to Harvard University because Harvard is accused of liberal bias and allowing antisemitic behaviour on campus about pro-Palestine protests condemning the war in Gaza, however, there are other speculations on social media, as per the report.
ALSO READ:
Reports say Trump hit Apple with surprise tax after Tim Cook refused to join presidential trip to Middle East
According to the Irish Star, rumours are swirling on social media that the US president's youngest son,
Barron Trump
, was rejected from elite schools including Harvard, Columbia and Stanford. There are claims that Barron's rejection from the institutions has driven his father to threaten to withhold
federal funding
from them, reported Irish Star.
This speculation started last year after Trump had revealed that Barron would be attending NYU's Stern School of Business, which marked a break from the Trump family tradition of attending either the University of Pennsylvania or Georgetown, reported Irish Star.
However, this is just an online speculation, and there is no evidence to prove that it is true that Barron was rejected from Stanford, Harvard and Columbia, according to the report.
FAQs
Which college is Barron Trump attending?
He's reportedly attending NYU's Stern School of Business.
Why is Trump cutting federal funding to Harvard?
He claims it's due to Harvard's alleged liberal bias and tolerance of antisemitic behavior on campus.
Economic Times WhatsApp channel
)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
22 minutes ago
- Hindustan Times
Who is Anthony Thomas Reyes? Madman who scaled Mar-a-Lago to propose to Trump's granddaughter, Kai Trump
A 23-year-old man from Texas was arrested after climbing over the walls of Mar-a-Lago, President Donald Trump's private Florida estate, to propose to POTUS' granddaughter, Kai Trump. On Tuesday, just after midnight, Secret Service agents noticed the man on the property. He reportedly told officers he was there to 'spread the gospel' and to find 18-year-old Kai, who had just become 18. Notably, at the time, President Trump was in Washington, D.C., and Kai was vacationing with friends and family in the Bahamas. ALSO READ| Will TikTok be banned on June 19? Trump signals another deadline extension - What we know Palm Beach County Sheriff's Office said the man, identified as Anthony Thomas Reyes, scaled the estate's high perimeter wall in search of the teen. He claimed he wanted to ask for Kai's hand in marriage. Authorities charged him with trespassing, and he is now being held at the Palm Beach County Jail on a $50,000 bond. He has pleaded not guilty. Interestingly, Palm Beach police say he was previously warned for trespassing on New Year's Eve in 2024. Kai Trump, daughter of Donald Trump Jr. and Vanessa Trump, known for her love of golf, her vlogs, and her close bond with her grandfather, gained a loyal online following, too. Though she's dialled back her social media presence since Trump's return to the White House, she recently posted a YouTube vlog from her Bahamas vacation, where she enjoyed time with her best friend and mother, and practised her swing on the local golf course. 'I'm gonna hit some balls because why not,' she said in the video. 'Worked on my swing a little. It's beautiful. I'm not sure if you guys have ever been to Albany before... I love it.' ALSO READ| Kai Trump name-drops Tiger Woods as mom, Vanessa Trump's alleged relationship with golfer heats up 'I just wanna say that I play a lot of golf with Kai and she's a fantastic golfer. She's a scratch player, which is amazing. I think some day in the not-too-distant future she's gonna be much better than scratch,' Trump praised Kai in one of her blogs. Kai has committed to the University of Miami this fall and has hinted at possible aspirations to go pro.
Time of India
33 minutes ago
- Time of India
Nvidia's $1 trillion rally has traders primed to ramp back up
Nvidia gained 0.9% on Tuesday and has surged over 45% since its April low, boosting its market value to $3.4 trillion, just behind Microsoft, the world's most valuable company. Nvidia shares are still 7% below their January record high. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Nvidia shares have staged a $1 trillion rebound in two months — and investors are betting the rally has further to go as fears about the chipmaker give way to week's earnings report assuaged some key investor concerns: particularly whether US restrictions on the sales of advanced semiconductors in China would derail Nvidia's rapid revenue growth as well as the outlook for artificial intelligence spending , and the firm's ability to expand supply of its newest Blackwell chips.'Those questions have been answered in the positive for Nvidia,' said Thomas Martin, senior portfolio manager at Globalt Investments. 'It's time to ramp back up your ownership.'After soaring for two and a half years amid insatiable demand for its chips used in AI computing, Nvidia shares tumbled in the first few months of 2025 on concerns about President Donald Trump's trade policies and a potential pullback in spending by its biggest rose 0.9% on Tuesday, and since an April low, the stock has rallied more than 45%, pushing Nvidia's market value to $3.4 trillion. That's just shy of Microsoft the world's most valuable company. Nvidia shares remain 7% below a record high in the big advance, Nvidia trades at roughly 29 times profits projected over the next 12 months, well below the average over the past decade at 34 times. By contrast, the Nasdaq 100 is priced at 26 times despite Wall Street estimates calling for revenue growth this year that's a fraction of Nvidia's. The stock's PEG ratio — a measure of valuation relative to growth — is under 0.9, by far the lowest among the Magnificent Seven, which also includes Apple Inc., Inc., Alphabet Inc., Tesla Inc. and Meta Platforms course, Nvidia is still exposed to US tariffs given its chips are manufactured overseas and could be hurt by a deterioration in trade relations with China, a country that accounted for 13% of revenue in the first quarter. However, purchase agreements with governments in the Middle East are seen as offsetting some lost sales and Nvidia's product pipeline is expected to keep competitors at Meta, Alphabet, and Amazon, which together comprise more than 40% of Nvidia's revenue, continue to invest aggressively in AI infrastructure. Capital expenditures for the four companies are projected to reach roughly $330 billion in 2026, up 6% from estimated spending this year, according to the average of analyst estimates compiled by Bloomberg. Amazon's cloud services chief on Friday reiterated the company's plan to aggressively expand its data centers.'We just haven't seen any kind of slowdown in AI spending, and so long as capex keeps moving up, we're unlikely to see the cycle roll over or Nvidia experience much compression to its multiple,' said Samuel Rines, a macro strategist at is undervalued, according to Rines, who argues the ratio of price-to-projected earnings for the stock could rise to the high 30s or low are widely bullish on Nvidia. Of the 78 covering the stock, eight have hold ratings and only one says sell. The average price target sits at around $170, which would represent a gain of 24% from Monday's closing price, according to data compiled by Why Is Nvidia the King of AI Chips, and Can It Last?Despite its popularity on Wall Street, the stock remains under-owned by market professionals relative to other Big Tech peers, suggesting the potential for more buying in the weeks to come. Nvidia is owned by 74% of long-only funds, according to data from Bank of America published on Friday. This puts it behind Amazon, Apple, and Microsoft, which is the most owned at 91%.The relatively low exposure coupled with demand for more computing infrastructure is likely to drive Nvidia shares higher into 2026, according to Angelo Zino, senior equity analyst at CFRA Research.'There were a lot of investors that really got out of this market prematurely and now they're kind of being forced back into it,' Zino said.
Time of India
35 minutes ago
- Time of India
Trump promises to hike steel and aluminium tariffs to 50% starting Wednesday. Here's what we know
US President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminium to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders, and likely push up prices for consumers. Foreign-made steel and aluminium is used in household products like soup cans and paper clips as well as big-ticket items like a stainless-steel refrigerators and cars. Economists warn that the latest tariffs will significantly squeeze the wallets of both companies and shoppers alike. Here's what we know. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now What's the tariff rate on imported steel and aluminium now? Steel and aluminium imports are currently taxed at 25% - a rate that both metals have faced across the board since March 12 when Trump's order to remove steel exemptions and raise aluminium's levy from his previously-imposed 2018 import taxes went into effect. That's about to double. In a proclamation issued Tuesday, Trump confirmed that the U.S. will begin taxing nearly all steel and aluminium imports at 50% after the clock strikes midnight Wednesday. Steel and aluminium from the U.K., meanwhile, will continue to be levied at 25% due to a recent trade deal. Live Events Why is Trump raising these tariffs? Trump says it's all about protecting U.S. industries. He reiterated that argument on Friday, when he first announced the 50% tariff during a visit with steelworkers in Pennsylvania, where he also discussed a "planned partnership" between U.S. Steel and Japan's Nippon Steel . In his speech at U.S. Steel's Mon Valley Works-Irvin Plant in suburban Pittsburgh, Trump said that the tariff hike would "further secure the steel industry in the U.S." Shortly after, he took the same tone when sharing plans to also raise tariffs on imported aluminium. In Tuesday's proclamation, Trump also said that the higher tariffs would ensure that imported steel and aluminium would "not threaten to impair the national security." "In my judgment, the increased tariffs will more effectively counter foreign countries that continue to offload low-priced, excess steel and aluminium in the United States," he said in the proclamation. How is the industry responding? While some analysts have credited the tariffs Trump imposed during his first term with strengthening domestic production of steel and aluminium, many others have warned that stark new levies can make it difficult for the industry to adjust. Some organizations representing metal workers also note that tariffs aren't the only solution needed to boost U.S. manufacturing. "While tariffs, used strategically, serve as a valuable tool in balancing the scales, it's essential that we also pursue wider reforms of our global trading system," David McCall, international president of the United Steelworkers union said in a statement, noting that work must be done "in collaboration with trusted allies" like Canada - the top exporter of steel and aluminium to the U.S. - to help "contain the bad actors." Matt Meenan , vice president of external affairs at the aluminium Association , added that the trade group "appreciates President Trump's continued focus on strengthening the U.S. aluminium industry," but that "tariffs alone will not increase U.S. primary aluminium production." "We also need consistent, predictable trade and tariff policy to plan for current and future investment," Meenan said. What kinds of products could be impacted by heightened steel and aluminium tariffs? A range of businesses that rely on foreign-made steel and aluminium have already begun feeling the impacts of Trump's previously-imposed levies. But the latest anticipated hikes could drive up costs even more. Steel and aluminium are used in a range of products like washing machines, consumer electronics and cars. Much of the auto industry relies on a global supply chain. And even if you aren't in the market to buy a new vehicle, repairs could involve parts that use imports of either metal, driving up overall maintenance and ownership costs. In the grocery aisle, steel and aluminium are ubiquitous in the packaging for many foods, including canned tuna, soup and nuts. Experts warn that hiking import taxes on these materials could led to higher grocery prices overall, further straining consumers wallets. The aluminium and metal tariffs also carry wider implications for construction and transportation as a whole, as many key building parts and materials are made with these metals. Economists further warn of spillover impacts. Even if a product isn't directly packaged in steel or aluminium, there could be higher costs to build the shelf it's sold on, for example, or truck used to transport it to the store. And all of that could trickle down to the consumer down the road. If foreign competition becomes "priced out" due to these new tariffs, U.S. steel and aluminium producers may also find room to raise their own prices. As a result, even companies that don't buy these foreign metals could end up paying more. Steel prices have already climbed 16% since Trump became president in mid-January, according to the government's Producer Price Index. And as of March 2025, steel cost $984 a metric ton in the U.S., significantly higher than than in Europe ($690) or China ($392), per the U.S. Commerce Department. Will there be any exceptions? The new 50% tariff rate will apply to nearly all steel and aluminium coming into the U.S. from other countries. But the U.K., which recently reached a sweeping trade agreement with the U.S., will see an exception. As part of trade deal reached between the two nations on May 8, the U.K. said that the U.S. had agreed to eliminate its current 25% duties on British steel and aluminium down to zero. That exemption had yet to go into effect in the weeks following - but in his proclamation issued Tuesday, Trump acknowledged that it was "necessary and appropriate" to implement the deal, and would "accordingly provide different treatment" for these metals coming from the U.K. Per Trump's proclamation, the duty on British steel and aluminium will now stay 25%. But that rates could be adjusted starting on July 9 if the U.S. government determines that Britain has not complied with the framework. Trump's planned hikes for steel and aluminium tariffs for the rest of the world could spark retaliation from other trading partners. In response to levies imposed on these metals earlier in the year, for example, the European Union previously outlined countermeasures. The 27-nation bloc later delayed those actions until July 14 in efforts to ease negotiations, but said on Monday that was preparing a list of measures to enact if a trade deal with the U.S. crumbles.
