Trump Trade War & Defunding the Ivy League | 4.8.25

Summary

Morning Wire Podcast Summary
Episode: Trump Trade War & Defunding the Ivy League
Release Date: April 8, 2025
Hosts: John Bickley & Georgia Howe
Source: The Daily Wire

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Introduction to Key Issues

In the April 8, 2025 episode of Morning Wire, hosts John Bickley and Georgia Howe delve into two major topics dominating the national conversation: President Trump's ongoing trade war with China and the administration's controversial move to defund Ivy League institutions over allegations of anti-Semitism and improper Diversity, Equity, and Inclusion (DEI) programs.

Trump's Stance on the Trade War

Georgia Howe opens the discussion amidst fluctuating stock markets influenced by President Trump's steadfast approach to his tariff and trade strategy. She quotes Trump at [00:08] saying, “We're going to have one shot at this and no other president's going to do this,” highlighting his commitment to the policy amidst economic uncertainties.

Market Volatility Analysis
Cabot Phillips, Senior Editor, and Kenny Pokari, Senior Market Strategist, provide insights into the economic repercussions of the trade policies.

At [01:43], Cabot Phillips introduces Kenny Pokari, who explains the day's market turmoil:
"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." [01:57]

Notable Market Events:

• Hong Kong stocks experienced their worst day in nearly three decades, plummeting over 13%
• European and Asian markets mirrored this decline
• U.S. Wall Street saw significant swings, with the Dow, S&P, and Nasdaq finishing within 1% of their opening values
• Trump’s Assurance:
  At [02:32], Trump states, “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.”

Fake News Impact on Markets:
A critical moment occurred at [03:00] when a false headline about a potential tariff pause caused a temporary spike in the S&P 500 by 7%, only to be nullified when the White House debunked the claim. Pokari interprets this volatility as a sign of the market's desperation for positive news amid persistent uncertainty.

Future Tariff Plans:
Trump signaled willingness to escalate tariffs if China doesn't negotiate, threatening a 50% tariff increase if demands aren't met by [04:39]. This aggressive stance has drawn international criticism, with China retaliating with their own tariffs and accusing Trump of "bullying."

Congressional Pushback:
At [05:27], Pokari discusses the emergence of the Trade Review Act of 2025, which seeks Congressional approval for future tariffs. Notably, seven Republicans, including leaders like Chuck Grassley and Mitch McConnell, support the bill. Trump has threatened a veto, indicating potential legislative battles ahead.

Defunding Ivy League Universities

Transitioning to education, the podcast addresses the Trump administration's decision to suspend federal funding to Ivy League schools over their handling of anti-Semitism and DEI initiatives.

Funding Suspension Details:
At [06:33], Cabot Phillips outlines the administration's actions:
"The Trump administration is suspending hundreds of millions of dollars in government funding for elite colleges and universities over their handling of antisemitism and DEI programs."

Impact on Ivy League Institutions:
Megan Basham, Culture Reporter, provides specifics:

• Columbia University: Lost $400 million due to campus unrest during pro-Palestinian protests
• University of Pennsylvania: Facing a $175 million cut over policies concerning transgender athletes
• Princeton University: Had $210 million halted for anti-Semitism issues
• Brown University: Recently saw $510 million in funding suspended
• Harvard University: The largest at stake with $9 billion under review
  At [08:44], Basham notes, "Harvard is the gorilla in the room here with 9 billion in contracts and grants under review."

Responses from University Leadership:
Harvard's President, Alan Garber, acknowledged anti-Semitism on campus and the potential jeopardy of essential research funding but has yet to fully comply with federal standards. Christopher Eisgruber of Princeton emphasized that the funding serves broader American interests.

Trump's Justification:
At [09:49], Trump defends the funding relationships, stating,
"This pact between the government and research universities... has contributed tremendously to the prosperity, health, and security of our country."

Legal and Political Repercussions:
Georgia Howe anticipates legal challenges, as the administration's actions against academic institutions could lead to court battles, especially considering the precedent set by Maine's Attorney General filing a lawsuit over federal funding halts related to Title IX disputes.

Transgender Athletes and Title IX Enforcement

The episode also covers the Trump administration’s crackdown on transgender athletes in women’s sports, enforcing Title IX regulations.

Formation of Special Investigations Team:
At [11:19], Mairead Elordi, Investigative Reporter, explains the new task force:
"The Education Department says they're currently receiving a staggering volume of Title IX complaints. This task force will have investigators and attorneys thoroughly investigate violations which will include males in women's sports as well as bathrooms and locker rooms."

Athlete Protests:
Prominent athletes like Abigail Wilson and Stephanie Turner have publicly protested against transgender athletes competing in women's divisions. Turner’s confrontations, particularly at fencing tournaments, highlight the growing tension and resistance among female athletes.

Statistical Context:
Elordi cites a UN report indicating over 600 female athletes have lost 890 medals across 29 sports due to such policy implementations, emphasizing the widespread impact.

Legal Actions in Maine:
The podcast references Maine’s recent legal actions, where Governor Janet Mills opposed the administration’s Title IX enforcement, leading to federal funding pauses and subsequent litigation challenging these decisions.

Conclusion

The Morning Wire episode presents a critical examination of President Trump’s assertive policies on trade and education, underscored by significant economic and social ramifications. With markets in flux, legislative challenges looming, and heated debates over university funding and transgender athletes, the administration's actions continue to spark intense national discourse.

Notable Quotes:

• President Trump [00:08]: "We're going to have one shot at this and no other president's going to do this."
• Kenny Pokari [02:44]: "The market is aching and looking for anything positive kind of in this mess."
• President Trump [04:51]: "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."
• Megan Basham [06:57]: "The White House says schools are not eligible for this taxpayer money if they fail to protect Jewish students and uphold new civil rights standards."
• President Trump [10:00]: "This pact between the government and research universities... has contributed tremendously to the prosperity, health and security of our country."

This comprehensive overview ensures listeners stay informed on the pivotal issues shaping the current political and economic landscape, even if they missed the episode itself.

Transcript

[Georgia Howe]

Stocks slow their fall as President Trump stands firm in his tariff and trade plan.

[President Trump]

We're going to have one shot at this and no other president's going to do this.

[Georgia Howe]

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 semit billion.

[Cabot Phillips]

Dollars it's sitting on. If any university can survive four years of having its funding withheld 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.

[Georgia Howe]

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.

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[Georgia Howe]

President Trump is holding firm on his unprecedented tariff policy as markets swing and trade partners look to make a deal.

[Cabot Phillips]

Daily Wire senior editor Cabot Phillips is here to break down what it means for the economy and the consumer at home. Cabot so the market turmoil continuing to dominate the global conversation. We discussed this Monday new developments since then. What's the latest?

[Kenny Pokari]

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 and 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.

[President Trump]

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.

[Kenny Pokari]

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.

[Cabot Phillips]

And we got an example of that volatility yesterday amid a fake headline saga, which was very interesting. What happened there?

[Kenny Pokari]

Yeah, a wild story. So around 10:10 yesterday morning, a large Twitter account posted that President Trump was considering a 90 day pause on all tariffs by 10:15. Five minutes later, a CNBC guest repeated the claim and markets soared, gaining literally trillions of dollars in value. In literally minutes, the S&P 500 spiked 7%, going from down 4% to up 3%. 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 Pokari, the senior market strategist for sladestone 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 at 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 close 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 5 and 6% down days like that.

[Cabot Phillips]

So a more measured take from Pokari. 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?

[Kenny Pokari]

So rather than expressing an openness to a deal, as we've seen from dozens of other countries, China responded with 34% tariffs on American goods. President Trump expressed a willingness to go tit for tat in response.

[President Trump]

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'd make an arsenal trade, and it shouldn't be that way.

[Kenny Pokari]

Officials in Beijing even accused President Trump of, quote, bullying their country. And in a remarkable twist, the Chinese embassy in Washington responded by posting clips of then President Reagan expressing his distaste for tariffs.

[Cabot Phillips]

I never thought we'd see that.

[President Trump]

Yeah.

[Cabot Phillips]

So President Trump and his allies seem to remain in lockstep, but some in the GOP have begun to waver. What are we seeing on that front?

[Kenny Pokari]

Right. A number of senators have crafted the Trade Review act of 2025, a new bill that would require congressional approval for future tariffs. Among other things, the law would give Congress the power to dissolve unilateral tariffs issued by the president. Seven Republicans have already joined a number of Democrats in endorsing that measure, including Chuck Grassley, Mitch McConnell, and Thom Tillis. President Trump, for his part, threatened to veto the legislation if it's passed.

[Cabot Phillips]

All right, Kevin, thanks for reporting.

[Kenny Pokari]

My pleasure.

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[Cabot Phillips]

The Trump administration is suspending hundreds of millions of dollars in government funding for elite colleges and universities over their handling of antisemitism and DEI programs. Some of the schools are saying they'll fight back.

[Georgia Howe]

Here with the latest is Daily Wire culture reporter Megan Basham. So, Megan, can you first explain what this funding is and then why the Trump administration is threatening to pull it?

[Megan Basham]

Yeah, sure. So primarily, these are grants that are flowing to universities under the umbrella of the Department of Health and Human Services for research projects. Now, the White House says schools are not eligible for this taxpayer money if they fail to protect Jewish students and uphold new civil rights standards, which includes doing away with those race based admissions. This is what education secretary Linda McMahon told Fox News last week.

[President Trump]

When you see students barricaded in the library, people pounding on the glass saying death to usa, Death to Israel. And I've talked to students at Columbia, Jewish students who told me that they were afraid to go across campus. And a lot of the Jewish interaction on campus has been driven underground and that's just not the way our education should be now.

[Megan Basham]

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.

[Georgia Howe]

So which schools have lost funding so far?

[Megan Basham]

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 anti Semitism. Then just a few days ago, 510 million in funding to Brown. That's the latest cut for the same reason.

[Georgia Howe]

Now, these are all Ivy League schools so far. And as far as funding goes, Harvard dwarfs the rest. So what's Harvard status?

[Megan Basham]

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.

[President Trump]

This pact between the government and research universities, which goes back to shortly after World War II, has been fundamental to the excellence of American research universities and it has contributed contribute tremendously to the prosperity, health and security of our country. And that pact has depended on the idea that the American government will come to universities and ask them to do research that is in the interest of the American people. And universities have done that spectacularly, making both the country and the universities stronger.

[Megan Basham]

On NPR on Sunday, he called the funding halt a threat to academic freedom and said it's the greatest threat to American University since the Red Scare. And he also said that while he's not judging other university presidents, Princeton isn't going to be making concessions. So overall, right now, every Ivy League school with the exception of Dartmouth has had some funding frozen.

[Georgia Howe]

Well, it'll be interesting to see how the courts view this as it will no doubt end up there. Megan, thanks for reporting.

[Megan Basham]

Anytime.

[Cabot Phillips]

Despite Trump's executive orders against males in women's sports, many trans identifying males are still being allowed to play and win against women.

[Georgia Howe]

In response, the Trump administration announced a new special investigations team that will probe schools violating Title IX by letting males play on girls teams. Joining us with the details is Daily Wire investigative reporter Mairead Elordi. So, Mairead, first off, tell us about this special investigations team.

[Mairead Elordi]

Hey, Georgia. So the Education and Justice departments announced this joint task force to protect female athletes from what they say is, quote, the pernicious effects of gender ideology in school programs and activities. The Education Department says they're currently receiving a staggering volume of Title IX complaints. This task force will have investigators and attorneys thoroughly investigate violations which will include males in women's sports as well as bathrooms and locker rooms.

[Georgia Howe]

And we are seeing a trend, too, of more female athletes taking a stand against this publicly, correct?

[Mairead Elordi]

Right. Several have made headlines in recent weeks. One is professional disc golfer Abigail Wilson. She walked off the course at a tournament in Nashville, Nashville, on Friday to protest a male player in the women's division. In case you couldn't hear that, Wilson said females must be protected in our division. This is unfair. I refuse to play. I talked to Wilson afterward, and she said she was pressured not to speak out by the Disc Golf World Tour.

[Stephanie Turner]

Not only were they telling me they weren't going to protect me and offer me safety, but they were also starting to compel my speech, which is something I wouldn't stand for. And I just felt like I was just pushed a little too far, honestly. It's time for women in our division in all sports to stand up for themselves because no one else is going to do this for us. If we let these girls lose their voices, then we have failed them as women, and I just don't want to be part of that.

[Mairead Elordi]

Another protest just happened at the University of Maryland. Stephanie Turner was disqualified from a fencing tournament last weekend after forfeiting a match against Redmond Sullivan. Sullivan used to compete as a male, but after switching to the female division, he won first place at the Connecticut Division Junior Olympic qualifiers. Turner has talked about her protests. Here she is on Fox and Friends.

[Georgia Howe]

I'm a woman and this is a man, and I will not fence this individual. Women's sports are designed to demonstrate female athletic excellence, and that gets lost when there are men in the tournament.

[Mairead Elordi]

We reached out to USA Fencing for an explanation about their decision to disqualify Turner. They said while the conversation on this topic is evolving, they'll always err on the side of inclusion.

[Georgia Howe]

Now, both of these incidents occurred just in the past week. How frequently is this happening?

[Mairead Elordi]

It happens quite a lot. A UN report found last year that over 600 female athletes in more than 400 competitions have lost more than 890 medals in 29 different sports. To cite just one example, Zachary Rose, who now identifies as Leah, easily won the high jump at the Portland Interscholasket League varsity relays. He beat the girls in the competition by 2 inches. For context, in 2023, Rose came in dead last in the same event for boys.

[Georgia Howe]

JV now, we've reported on this show about Trump's battle with Maine and Maine's governor on this issue. What's the status there?

[Mairead Elordi]

So, Last week, the U.S. department of Agriculture paused federal funding to Maine's athletic programs. That followed Governor Janet Mills refusing to comply with President Trump's executive order on Title ix. Yesterday, Maine's attorney general filed a lawsuit against the Trump administration challenging the Department of Agriculture's halt to the state's federal funding. This is the first such suit over a Title IX dispute and will likely not be the last.

[Georgia Howe]

Well, even in a liberal state like Maine, this is not a popular issue.

[Mairead Elordi]

Right?

[Georgia Howe]

Mairead, thanks for reporting.

[Mairead Elordi]

Thanks, Georgia.

[Georgia Howe]

Thanks for waking up with us. We'll be back later this afternoon with more news. You need to know.