Trump holds firm on tariffs, several elite colleges face federal funding review and more women refuse to compete against men. Get the facts first with Morning Wire.Lumen: Head to http://lumen.me/WIRE for 15% off your purchase.Shopify: Go to https://Shopify.com/morningwire to sign up for your $1 per month trial period and upgrade your selling today.
Chapter 1: What are the key highlights of Trump's trade policies?
stocks slow their fall as President Trump stands firm in his tariff and trade plan.
We're going to have one shot at this, and no other president's going to do this.
I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Tuesday, April 8th, and this is Morning Wire. The Trump administration pulls billions of dollars in federal funding from Ivy League colleges over their handling of anti-Semitism.
Harvard has $50 billion sitting on it. If any university can survive four years of having its funding with help from the federal government, it's Harvard.
And female athletes across the country take a knee rather than face off against men allowed to play in women's sports.
This is not a moment. It is a movement of truth and bravery that has begun.
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Chapter 2: Why is the Trump administration defunding Ivy League colleges?
Chapter 3: How are female athletes responding to competing against men?
And female athletes across the country take a knee rather than face off against men allowed to play in women's sports.
This is not a moment. It is a movement of truth and bravery that has begun.
Thanks for waking up with Morning Wire. Stay tuned. We have the news you need to know.
If you run a small business, you know there's nothing small about it. That's where Shopify comes in. Shopify is the commerce platform behind millions of businesses around the world that helps tackle all the important tasks in one place from inventory to payments to analytics and more. With 99.99% uptime and the best converting checkout on the planet, you'll never miss a sale again.
Get all the big stuff for your small business right with Shopify. Sign up for your $1 per month trial period and start selling today at Shopify.com slash Morning Wire. Go to Shopify.com slash Morning Wire. Again, that's Shopify.com slash Morning Wire.
President Trump is holding firm on his unprecedented tariff policy as market swing and trade partners look to make a deal.
Daily Wire senior editor Cabot Phillips is here to break down what it means for the economy and the consumer at home. Hey, Cabot, so the market turmoil continuing to dominate the global conversation. We discussed this Monday, new developments since then.
What's the latest? Yeah, the roller coaster continued Monday as uncertainty remained over how long those tariffs will stay in place and what they'll mean for the cost of goods. Stocks in Hong Kong saw their worst day in nearly 30 years, plunging more than 13%. It was a similar story for markets across Europe and the rest of Asia.
Here on Wall Street, we saw wild swings throughout the day, but ultimately the Dow, S&P and Nasdaq each ended up within 1% of where they began when markets opened. So a little less craziness. For his part, President Trump continued urging Americans to trust his plan. Here he is speaking at the White House Monday afternoon.
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Chapter 4: What impact do fake headlines have on the stock market?
But moments later, the White House issued a statement calling the report fake news and markets fell right back down, erasing all of those gains. I spoke with Kenny Pocari, the senior market strategist for SlateStone Wealth, for his take on that swing.
What it tells you is that the market is aching and looking for anything positive kind of in this mess. Because as you and I both know, the market hates uncertainty. It just hates it. It can take bad news as long as there's some certainty to it. The market can then adjust.
But when the market remains so uncertain, then the anxiety level rises, volatility rises, and it's that shoot first, ask questions later, and it's lower prices.
Pocari said that he thinks we've already seen the worst of the market drops.
You can never really pick the bottom and you kind of want to make sure you're not still jumping into, you know, catching a falling knife. My sense is that we're getting probably closer to a bottom than not, which doesn't mean that we're not going to keep churning and maybe trading a little bit lower.
But I don't think we're going to see three or four more down days of five and six percent down days like that.
So a more measured take from Pocari. Now, the president also signaled Monday that he'd be willing to implement even more tariffs on China if they don't come to the table. What's he proposing?
So rather than expressing an openness to a deal, as we've seen from dozens of other countries, China responded with 34 percent tariffs on American goods. President Trump expressed a willingness to go tit for tat in response.
If that tariff isn't removed by tomorrow at 12 o'clock, we're putting a 50% tariff on above the tariffs that we put on. Hundreds of billions of dollars a year they're making us on trade, and it shouldn't be that way.
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Chapter 5: What is the Trade Review Act of 2025?
Chapter 6: How can Shopify help small businesses grow?
If you run a small business, you know there's nothing small about it. That's where Shopify comes in. Shopify is the commerce platform behind millions of businesses around the world that helps tackle all the important tasks in one place from inventory to payments to analytics and more. With 99.99% uptime and the best converting checkout on the planet, you'll never miss a sale again.
Get all the big stuff for your small business right with Shopify. Sign up for your $1 per month trial period and start selling today at Shopify.com slash Morning Wire. Go to Shopify.com slash Morning Wire. Again, that's Shopify.com slash Morning Wire.
President Trump is holding firm on his unprecedented tariff policy as market swing and trade partners look to make a deal.
Daily Wire senior editor Cabot Phillips is here to break down what it means for the economy and the consumer at home. Hey, Cabot, so the market turmoil continuing to dominate the global conversation. We discussed this Monday, new developments since then.
What's the latest? Yeah, the roller coaster continued Monday as uncertainty remained over how long those tariffs will stay in place and what they'll mean for the cost of goods. Stocks in Hong Kong saw their worst day in nearly 30 years, plunging more than 13%. It was a similar story for markets across Europe and the rest of Asia.
Here on Wall Street, we saw wild swings throughout the day, but ultimately the Dow, S&P and Nasdaq each ended up within 1% of where they began when markets opened. So a little less craziness. For his part, President Trump continued urging Americans to trust his plan. Here he is speaking at the White House Monday afternoon.
We have an opportunity to change the fabric of our country. We have an opportunity to reset the table on trade. I don't mind going through it because I see a beautiful picture at the end.
And while his base and allies are certainly holding strong, reminding folks of the economy's success during his first term, there's no doubt that markets are less than confident.
And we got an example of that volatility yesterday amid a fake headline saga, which was very interesting. What happened there?
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Chapter 7: How does Lumen help with metabolism tracking?
Now, McMahon added that the task force investigating the schools was formed between the Department of Education, DOJ, and HHS and Government Services Administration, and that they're giving the schools a chance to comply so that funding can be restored.
So which schools have lost funding so far?
Well, Columbia University was the first school to have its funding suspended in early March, $400 million. That's really not surprising given the campus saw so much unrest during pro-Palestinian protests last year.
And then the University of Pennsylvania, Trump's own alma mater, is losing about $175 million in federal funding over a biological male swimmer who previously competed on the girls' team. the school still hasn't changed its policy on transgender athletes. And then last week, $210 million in research grants to Princeton University were halted over antisemitism.
Then just a few days ago, $510 million in funding to Brown. That's the latest cut for the same reason.
Now, these are all Ivy League schools so far. And as far as funding goes, Harvard dwarfs the rest. So what's Harvard's status?
Yes, absolutely. Harvard is the gorilla in the room here with $9 billion in contracts and grants under review. And that funding is halted pending an investigation into its handling of anti-Semitism. Former Harvard president Larry Summers commented to the Wall Street Journal that if Harvard folds he thinks every school will. But so far, Harvard has been threading this needle very carefully.
Its current president, Alan Garber, acknowledged the anti-Semitism problem on campus, and he warned that losing $9 billion would halt life-saving research and imperil scientific innovation. But it's still not clear that the school's going to comply with all of these new federal standards. And we have to keep in mind that Harvard was the epicenter of the DEI admissions scandal.
But so far, the president is only commenting on the anti-Semitism part of this investigation. Christopher Eisgruber, president of Princeton, told Bloomberg News that this funding isn't to the benefit of the schools per se, but for the American people in general.
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