
Trump Administration Live Updates: President Meets Scottish Leader on Last Day of Visit
Harvard University has signaled a willingness to meet the Trump administration's demand to spend as much as $500 million to end its dispute with the White House as talks between the two sides intensify, four people familiar with the negotiations said.
According to one of the people, Harvard is reluctant to directly pay the federal government, but negotiators are still discussing the exact financial terms.
The sum sought by the government, which recently accused Harvard of civil rights violations, is more than twice as much as the $200 million fine that Columbia University said it would pay when it settled antisemitism claims with the White House last week. Neither Harvard nor the government has publicly detailed potential terms for a settlement and what allegations the money would be intended to resolve.
President Trump has privately demanded that Harvard pay far more than Columbia. The people who described the talks and the dynamics surrounding them spoke on the condition of anonymity to discuss confidential negotiations.
Although the two sides have made progress toward a deal, Harvard is also skeptical of Columbia's agreement to allow an outside monitor to oversee its sweeping arrangement with the government. Harvard officials have signaled that such a requirement for their own settlement could be a redline as a potential infringement on the university's academic freedom.
University officials, though, concluded months ago that even if they prevailed in their court fight against the government, a deal could help Harvard to avoid more troubles over the course of Mr. Trump's term.
The timing was unclear for when the administration and Harvard might reach an accord, but the university is expected to demand that any deal be tied to the federal lawsuit it brought against the government in April.
Mr. Trump said in June that his administration might strike an agreement with Harvard 'over the next week or so.' Although that time frame has lapsed, the president has privately told aides that he will not green-light a deal unless the nation's oldest and wealthiest university agrees to spend many millions of dollars.
The president's focus on financial terms reflects a shift in strategy for the administration, which spent the first months of its assault on higher education highlighting the prospects of reorienting the industry's perceived ideological tilt. Although the White House has tied federal research funds to its quest for negotiations with top schools since the winter, Mr. Trump's focus on the financial conditions of any settlements emerged more recently.
Harvard declined to comment on Monday.
A White House spokesman, Harrison W. Fields, said on Monday that the administration's 'proposition is simple and common sense: Don't allow antisemitism and D.E.I. to run your campus, don't break the law, and protect the civil liberties of all students.'
Mr. Fields added that the White House was 'confident that Harvard will eventually come around and support the president's vision, and through good-faith conversations and negotiations, a good deal is more than possible.'
The Trump administration publicly depicted last week's settlement with Columbia as a template for bargaining with Harvard and other universities it has targeted. And, indeed, higher education executives have spent days dissecting the fine print of Columbia's agreement, a wide-ranging deal that goes far beyond addressing antisemitism. Many have focused on a provision that said no part of the settlement 'shall be construed as giving the United States authority to dictate faculty hiring, university hiring, admissions decisions or the content of academic speech.'
Although some people assailed Columbia for agreeing to the deal, others saw the arrangement as a necessity and a model for others to consider.
'They didn't admit wrongdoing — it's a classic settlement,' said Donna E. Shalala, who was the health secretary under President Bill Clinton and led four schools, including the University of Miami and the University of Wisconsin-Madison. 'You don't admit wrongdoing, and you preserve your right to continue as an institution.'
Mr. Trump, Dr. Shalala said, had a long record of 'transactional' bargaining with powerful institutions.
'The details are less important than getting the deal and getting the win,' she said. 'So if you know that when you go into a negotiation that it's less ideological than it is getting a win, then you can get a win on both sides.'
Harvard is now weighing its own calculations. But it faces a different range of considerations than Columbia, including its outsize standing in American life, its legal battle with the government and its insistence that it will not surrender its independence to any government.
'No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue,' Harvard's president, Alan M. Garber, wrote in April, an early signal that the university might resist oversight like what the Trump administration has envisioned.
Harvard sued soon after Dr. Garber released his statement and after the Trump administration began to strip the university of billions of dollars in federal research money.
Just last Monday, a federal judge in Boston appeared deeply skeptical in a hearing about the government's tactics against Harvard.
Although the judge, Allison D. Burroughs, did not immediately issue a decision in the case, her barrage of questions suggested serious doubts about the government's efforts to tie research funding to accusations of antisemitism.
Mr. Trump repeatedly criticized Judge Burroughs after the hearing, where the university's negotiations with the White House were not substantively discussed.
'Harvard wants to settle, but I think Columbia handled it better,' Mr. Trump said to reporters on the South Lawn of the White House on Friday.
His administration has not always insisted on payments from elite universities to settle disputes with the government.
When the administration cut a deal this summer with the University of Pennsylvania over accusations that the Ivy League school had violated civil rights laws by allowing a transgender person onto its women's swim team, Penn agreed to apologies and policy changes but no financial penalties.
But the administration has been eyeing Harvard's wealth for months, and Trump aides believe that the university is able to pay much more than Columbia did. Columbia's $200 million fine will go to the Treasury, a White House official said last week, until Congress decides how to spend it.
In April, when a government lawyer sent Harvard's legal team an array of potential actions by the university, one was the possibility of Harvard agreeing to a lien on its assets so the government could recoup federal dollars 'in event of noncompliance in the future.'
The idea, included in a document that became public in connection with Harvard's lawsuit against the government, gained little traction. When the administration sent Harvard a list of demands later that month, the notion of a lien was not mentioned.
Harvard has an endowment valued at about $53 billion. But most of the endowment is restricted, meaning that university leaders are limited in how they can tap a war chest that has long animated Mr. Trump and his aides. In a memorandum this month, Harvard's leaders wrote that a series of actions from Washington — including an increase in the excise tax on endowments and the administration's quest to eliminate grant funding to Harvard — could affect the university's budget by close to $1 billion a year.
'We hope that our legal challenges will reverse some of these federal actions and that our efforts to raise alternative sources of funding will be successful,' the Harvard officials wrote. 'As that work proceeds, we also need to prepare for the possibility that the lost revenues will not be restored anytime soon.'
Columbia's agreement with the federal government was intended to restart the flow of federal grant money, which is essential to top research universities. About 11 percent of Harvard's revenue comes through federally sponsored research.
Maggie Haberman contributed reporting.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
Investing in Freightways Group (NZSE:FRW) five years ago would have delivered you a 88% gain
When we invest, we're generally looking for stocks that outperform the market average. Buying under-rated businesses is one path to excess returns. For example, the Freightways Group Limited (NZSE:FRW) share price is up 56% in the last 5 years, clearly besting the market decline of around 6.3% (ignoring dividends). On the other hand, the more recent gains haven't been so impressive, with shareholders gaining just 29%, including dividends. So let's investigate and see if the longer term performance of the company has been in line with the underlying business' progress. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. During five years of share price growth, Freightways Group achieved compound earnings per share (EPS) growth of 1.8% per year. This EPS growth is slower than the share price growth of 9% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. That's not necessarily surprising considering the five-year track record of earnings growth. You can see below how EPS has changed over time (discover the exact values by clicking on the image). Dive deeper into Freightways Group's key metrics by checking this interactive graph of Freightways Group's earnings, revenue and cash flow. What About Dividends? It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of Freightways Group, it has a TSR of 88% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return. A Different Perspective We're pleased to report that Freightways Group shareholders have received a total shareholder return of 29% over one year. And that does include the dividend. That's better than the annualised return of 13% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Case in point: We've spotted 2 warning signs for Freightways Group you should be aware of. We will like Freightways Group better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on New Zealander exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Largest National Org Of OB-GYNs Cuts Financial Ties With Trump Admin
The country's largest organization of OB-GYN providers announced this week that it will stop accepting funds from the federal government. The American College of Obstetricians and Gynecologists, which has more than 60,000 members nationwide, will reject federal funding for all programs and contracts in response to the Trump administration's policies, Axios reported Friday. ACOG appears to be the first nationwide physician organization to cut ties with the Trump administration since President Donald Trump enacted his large-scale campaign to slash all federal initiatives for diversity, equity and inclusion. The national organization states on its website that diversity, equity and inclusion are part of the group's core values, which are integral to combating racism and oppression in medical care. The organization declined to expand on how this funding cut will impact its services but reiterated that ACOG remains committed to quality patient care and improving health outcomes. 'After careful deliberation, ACOG has made an organization-wide decision to stop accepting federal funding for all ACOG programs and activities for current contracts,' ACOG said in a statement to HuffPost on Friday. 'Recent changes in federal funding laws and regulations significantly impact ACOG's program goals, policy positions, and ability to provide timely and evidence-based guidance and recommendations for care.' The organization said it will continue to work with the Trump administration on policymaking decisions and advocating for OB-GYNs. 'We will evaluate opportunities to partner with the government in the future where our program goals align,' the statement reads. In response, White House spokesperson Harrison Fields told HuffPost on Friday afternoon: 'Protecting the civil rights and expanding opportunities for all Americans is a key priority of the Trump administration, which is why he took decisive actions to terminate unlawful DEI preferences in the federal government.' The Department of Health and Human Services did not respond to HuffPost's request for comment. ACOG has been at odds with Trump since his conservative Supreme Court repealed federal abortion protections. The fall of Roe v. Wade created a domino effect of state abortion bans that put pregnant people's lives in danger and threatened to criminalize reproductive health providers.

Miami Herald
an hour ago
- Miami Herald
Tariffs are making money. That may make them hard to quit.
WASHINGTON -- President Donald Trump's extensive tariffs have already started to generate a significant amount of money for the federal government, a new source of revenue for a heavily indebted nation that American policymakers may start to rely on. As part of his quest to reorder the global trading system, Trump has imposed steep tariffs on America's trading partners, with the bulk of those set to go into effect Thursday. Even before the latest tariffs kick in, revenue from taxes collected on imported goods has grown dramatically so far this year. Customs duties, along with some excise taxes, generated $152 billion through July, roughly double the $78 billion netted over the same time period last fiscal year, according to Treasury data. Indeed, Trump has routinely cited the tariff revenue as evidence that his trade approach, which has sown uncertainty and begun to increase prices for consumers, is a win for the United States. Members of his administration have argued that the money from the tariffs would help plug the hole created by the broad tax cuts Congress passed last month, which are expected to cost the government at least $3.4 trillion. 'The good news is that Tariffs are bringing Billions of Dollars into the USA!' Trump said on social media shortly after a weak jobs report showed signs of strain in the labor market. Over time, analysts expect that the tariffs, if left in place, could be worth more than $2 trillion in additional revenue over the next decade. Economists overwhelmingly hope that doesn't happen and the United States abandons the new trade barriers. But some acknowledge that such a substantial stream of revenue could end up being hard to quit. 'I think this is addictive,' said Joao Gomes, an economist at the University of Pennsylvania's Wharton School. 'I think a source of revenue is very hard to turn away from when the debt and deficit are what they are.' Trump has long fantasized about replacing taxes on income with tariffs. He often refers fondly to American fiscal policy in the late 19th century, when there was no income tax and the government relied on tariffs, citing that as a model for the future. And while income and payroll taxes remain by far the most important sources of government revenue, the combination of Trump's tariffs and the latest Republican tax cut does, on the margin, move the United States away from taxing earnings and toward taxing goods. Such a shift is expected to be regressive, meaning that rich Americans will fare better than poorer Americans under the change. That's because cutting taxes on income does, in general, provide the biggest benefit to richer Americans who earn the most income. The recent Republican cut to income taxes and the social safety net is perhaps the most regressive piece of major legislation in decades. Placing new taxes on imported products, however, is expected to raise the cost of everyday goods. Lower-income Americans spend more of their earnings on those more expensive goods, meaning the tariffs amount to a larger tax increase for them compared with richer Americans. Tariffs have begun to bleed into consumer prices, with many companies saying they will have to start raising prices as a result of added costs. And analysts expect the tariffs to weigh on the performance of the economy overall, which in turn could reduce the amount of traditional income tax revenue the government collects every year. 'Is there a better way to raise that amount of revenue? The economic answer is: Yes, there is a better way, there are more efficient ways,' said Ernie Tedeschi, director of economics at the Yale Budget Lab and a former Biden administration official. 'But it's really a political question.' Tedeschi said that future leaders in Washington, whether Republican or Democrat, may be hesitant to roll back the tariffs if that would mean a further addition to the federal debt load, which is already raising alarms on Wall Street. And replacing the tariff revenue with another type of tax increase would require Congress to act, while the tariffs would be a legacy decision made by a previous president. 'Congress may not be excited about taking such a politically risky vote when they didn't have to vote on tariffs in the first place,' Tedeschi said. Some in Washington are already starting to think about how they could spend the tariff revenue. Trump recently floated the possibility of sending Americans a cash rebate for the tariffs, and Sen. Josh Hawley, R-Mo., recently introduced legislation to send $600 to many Americans. 'We have so much money coming in, we're thinking about a little rebate, but the big thing we want to do is pay down debt,' Trump said last month of the tariffs. Democrats, once they return to power, may face a similar temptation to use the tariff revenue to fund a new social program, especially if raising taxes in Congress proves as challenging as it has in the past. As it is, Democrats have been divided over tariffs. Maintaining the status quo may be an easier political option than changing trade policy. 'That's a hefty chunk of change,' Tyson Brody, a Democratic strategist, said of the tariffs. 'The way that Democrats are starting to think about it is not that 'these will be impossible to withdraw.' It's: 'Oh, look, there's now going to be a large pot of money to use and reprogram.'' Of course, the tariffs could prove unpopular, and future elected officials may want to take steps that could lower consumer prices. At the same time, the amount of revenue the tariffs generate could decline over time if companies do, in fact, end up bringing back more of their operations to the United States, reducing the number of goods that face the import tax. 'This is clearly not an efficient way to gather revenue,' said Alex Jacquez, a former Biden official and the chief of policy and advocacy at Groundwork Collaborative, a liberal group. 'And I don't think it would be a long-term progressive priority as a way to simply collect revenue.' This article originally appeared in The New York Times. Copyright 2025