Harvard sues after Trump admin slashed billions in funding

AP Photo/Alex Brandon

President Donald Trump is registering the worst economic approval numbers of his presidential career amid broad discontent over his handling of tariffs, inflation and government spending, according to the latest CNBC All-America Economic Survey.

The survey found that the boost in economic optimism that accompanied Trump’s election in 2024 has disappeared, with more Americans now believing the economy will get worse than at any time since 2023 and with a sharp turn toward pessimism about the stock market.

The survey of 1,000 Americans across the country showed 44% approving of Trump’s handling of the presidency and 51% disapproving, slightly better than CNBC’s final reading when the president left office in 2020. On the economy, however, the survey showed Trump with 43% approval and 55% disapproval, the first time in any CNBC poll that he has been net negative on the economy while president.

Read the full story from CNBC here

Four House Democrats have traveled to El Salvador to call attention to the plight of a man the Trump administration deported to a Salvadoran prison and has refused to help return — even after the Supreme Court ruled that it was the government's duty to do so.

Reps. Yassamin Ansari of Arizona, Maxine Dexter of Oregon, Maxwell Frost of Florida and Robert Garcia of California arrived Sunday in the Central American nation to investigate the condition of Kilmar Abrego Garcia, who had lived in the United States for more than a decade.

The Trump administration deported him, a move that administration officials have said in court filings was done in error.

But despite a Supreme Court ruling that ordered the Trump administration to help facilitate Abrego Garcia's return, the administration has said it has no power to bring him back, a position being scrutinized by federal courts as potentially in violation of judicial rulings. Read the full story from The Associated Press here

Virginia Democrats vying to shield their statehouse majority and flip the governor’s mansion in November raised millions of dollars more than Republicans in the first three months of 2025, according to newly released campaign finance reports, securing a cash advantage in their pursuit of voters frustrated with Republican tech billionaire Elon Musk.

For months, Democrats have tailored their campaigns around anti-Musk sentiment in Virginia, pushing ads blasting his initiative to overhaul federal spending during President Donald Trump's administration.

And campaign finance reports released on Tuesday suggest their strategy may be helping their cash flow: Former U.S. Rep. Abigail Spanberger raised $6.7 million toward her campaign for governor between January and March, according to the nonpartisan Virginia Public Access Project. Democrats also raised more than $3.7 million during those months toward the House of Delegates elections, in which all seats of the lower chamber are on the ballot.

Read the full story from The Associated Press here

Trump complained this afternoon about a Supreme Court ruling temporarily halting deportations under the Alien Enemies Act and said it's not realistic to give deportees due process.

"I’m doing what I was elected to do, remove criminals from our Country, but the Courts don’t seem to want me to do that. My team is fantastic, doing an incredible job, however, they are being stymied at every turn by even the U.S. Supreme Court, which I have such great respect for," Trump said on Truth Social this afternoon.

He also railed against giving due process to the people he wants to deport.

"We cannot give everyone a trial, because to do so would take, without exaggeration, 200 years. We would need hundreds of thousands of trials for the hundreds of thousands of Illegals we are sending out of the Country. Such a thing is not possible to do," he wrote. "What a ridiculous situation we are in."

The Supreme Court seemed likely to uphold a key preventive-care provision of the Affordable Care Act in a case heard Monday.

Conservative justices Brett Kavanaugh and Amy Coney Barrett, along with the court's three liberals, appeared skeptical of arguments that Obamacare's process for deciding which services must be fully covered by private insurance is unconstitutional.

The case could have big ramifications for the law's preventive care coverage requirements for an estimated 150 million Americans. Medications and services that could be affected include statins to prevent heart disease, lung cancer screenings, HIV-prevention drugs and medication to lower the chance of breast cancer for high-risk women.

Read the full story from The Associated Press here

As the dispute between the federal government and Harvard University continues, the Ivy League institution says it has sued the Trump administration.

Harvard made headlines last week when President Alan Garber announced the university would not comply with a list of demands from the administration's Joint Task Force to Combat Anti-Semitism. The task force, in turn, announced that $2.2 billion in grants and $60 million in contracts were being frozen.

Days later, the New York Times reported that the letter outlining the demands from President Donald Trump's White House was sent to the school without authorization, citing two sources familiar with the matter.

"Over the course of the past week, the federal government has taken several actions following Harvard's refusal to comply with its illegal demands," Garber wrote in a letter to the school community Monday. "Although some members of the administration have said their April 11 letter was sent by mistake, other statements and their actions suggest otherwise. Doubling down on the letter's sweeping and intrusive demands — which would impose unprecedented and improper control over the University — the government has, in addition to the initial freeze of $2.2 billion in funding, considered taking steps to freeze an additional $1 billion in grants, initiated numerous investigations of Harvard's operations, threatened the education of international students, and announced that it is considering a revocation of Harvard’s 501(c)(3) tax-exempt status. These actions have stark real-life consequences for patients, students, faculty, staff, researchers, and the standing of American higher education in the world."

U.S. stocks tumbled and bonds sold off after Trump lobbed new insults at Fed Chair Jerome Powell, pressuring him to cut interest rates while markets are already contending with shocks from his tariff policy.

The S&P closed down down 2.4%. Since its February highs, the index is now off 16%, approaching bear market territory of a 20% decline.

The tech-heavy Nasdaq fell more than 2.5%. The Dow Jones Industrial Average lost almost 1,000 points, or 2.5%. The yield of the 10-year U.S. Treasury note surged to 4.41%, its highest level in more than a week.

All three indexes are down more than 9% since Trump's April 2 "Liberation Day" tariffs announcement.

“Melania and I will be going to the funeral of Pope Francis, in Rome. We look forward to being there!” Trump said on social media.

The U.S. Food and Drug Administration signaled Monday that it intends to phase out petroleum-based synthetic food dyes from the nation’s food supply.

Health Secretary Robert F. Kennedy Jr. and FDA Commissioner Marty Makary said they would announce the effort Tuesday afternoon in Washington, D.C.

No further details were released.

The FDA has approved 36 color additives for use in food, including nine synthetic dyes. Those include the dye called Red 3, which the agency banned in January.

The U.S. auto parts industry is asking Trump to pause his tariffs so that manufacturers have time to open domestic manufacturing.

The Specialty Equipment Market Association, which represents manufacturers, distributors and retailers in the auto parts sector, sent Trump and his top aides on trade policy a letter Monday that seeks economic relief.

In addition to a “transition period” to “re-shore” manufacturing, the group is seeking “some form of economic relief” that could include tariff exemptions for molds, tooling and machinery brought into the United States as well as tax incentives to defray the costs of doing so. The letter gives a specific example of how a Louisiana factory would struggle to manage the cost of expanding because its machinery needs to be imported from Germany or China.

Trump has imposed 25% tariffs on autos, though there are some protections under the USMCA North American free trade pact.

One of Pope Francis’ final encounters before his death was with U.S. Vice President JD Vance, who visited the Vatican over the weekend.

The meeting took place on Easter Sunday. Vance, a Catholic convert, entered the room and reached down for the pope’s hand. “Hello,” the vice president said. “So good to see you.”

Vance’s visit was not without political sensitivities, and he met with Cardinal Pietro Parolin on Saturday for what the Vatican described as “an exchange of opinions.” The Catholic Church, under Francis’ leadership, has championed the rights of migrants, while Vance and President Trump have advocated for crackdowns.

Vance’s office said the vice president and the cardinal “discussed their shared religious faith, Catholicism in the United States, the plight of persecuted Christian communities around the world, and President Trump’s commitment to restoring world peace.”

Trump called Pope Francis “a very good man who loved the world.”

“And he especially loved people that were having a hard time, and that’s good with me,” the president added.

Speaking to reporters on the sidelines of Easter festivities at the White House, Trump said he was still working on his schedule and wasn’t sure if he would attend Francis’ funeral. Asked if he agreed with the pope’s message of tolerance for migrants, Trump responded “Yeah, I do” but didn’t elaborate.

That comment came despite Trump making cracking down on the U.S.-Mexico border and championing hardline immigration policies a centerpiece of his second term. That’s included deporting migrants from the U.S. to Guantanamo Bay in Cuba, and a Salvadoran mega-prison.

Trump is slated to meet today with executives from Walmart, Target, Home Depot and Lowe’s, as concerns about his tariffs have rattled major U.S. retailers.

Trump’s baseline tariffs of 10% and import taxes of 145% on Chinese goods have created broader concerns about higher inflation and an economic slowdown. That’s created uncertainty and increased fears of a recession. The meeting was confirmed by an administration official who insisted on anonymity as the sitdown is not on Trump’s public schedule.

Bloomberg News first reported the meeting.

Trump said that Hegseth is doing a "great job."

"Pete's doing a great job," the president told reporters at the Easter Egg Roll on the White House South Lawn in response to reports that Hegseth shared sensitive information about U.S. military operations in Yemen with his wife and his brother on another Signal chat.

"Just ask the Houthis how he's doing," Trump said, referring to the Iranian-backed group in Yemen that was targeted by U.S. airstrikes.

Trump said that the latest report on Hegseth was "fake news" and that it "sounds like disgruntled employees."

"We have the highest recruitment numbers, I think, we've had in 28 years," Trump said.

Homeland Security Secretary Kristi Noem's bag was stolen last night, including a large amount of cash, a DHS spokesperson told NBC News.

CNN was first to report that Noem's bag was stolen, reporting that $3,000 was taken.

Asked why Noem was carrying that much cash, the DHS spokesperson told NBC News: “Her entire family was in town including her children and grandchildren — she was using the withdrawal to treat her family to dinner, activities, and Easter gifts.”

NBC asked Noem about the incident at the White House Easter Egg Roll but she said she couldn't comment on it yet.

U.S. stocks are tumbling Monday as worries about Trump’s trade war and his criticism of the Federal Reserve cause investors pull further from the United States.

The S&P 500 was 2.1% lower in morning trading and nearly 16% below its record set two months ago. The Dow Jones Industrial Average was down 726 points, or 1.9%, as of 10:30 a.m. Eastern time, while losses for Tesla and other Big Tech stocks had the Nasdaq composite down a market-leading 2.6%.

AP Photo/Richard Drew

Perhaps more worryingly, the value of the U.S. dollar also sank as a retreat continues from U.S. markets. It’s an unusual move because the dollar has historically strengthened during past episodes of nervousness. But this time around, it’s policies directly from Washington that are causing the fear and potentially weakening the dollar's reputation as a pillar of the global economy and one of the safest possible investments.

Trump continued his tough talk on global trade over the weekend, even as economists and investors continue to say his stiff proposed tariffs could cause a recession if they’re not rolled back. U.S. talks last week with Japan have so far failed to reach a deal that could lower tariffs and help protect the economy, and they're seen as a “test case,” according to Thierry Wizman, a strategist at Macquarie.

Flags across the country will be flown at half-staff to mourn the death of Pope Francis, Trump announced at the White House's Easter Egg Roll today.

Trump said he signed an executive order to lower "all federal flags and state flags." The order is not yet available.

"So he was a good man, worked hard," Trump said. "He loved the world, and it's an honor to do that."

President Donald Trump lobbed a fresh series of insults at Fed Chair Jerome Powell on Monday while reiterated a call for lower interest rates, a move meant to address concerns about a slowing U.S. economy but one that risks reigniting inflation.

In a post on Truth Social, Trump claimed without evidence that "preemptive cuts" were being called for "by many" now that the economy was facing what he described as "virtually No Inflation."

The economy now risks slowing, Trump said, "unless Mr. Too Late, a major loser, lowers interest rates, NOW."

"Powell has always been 'To Late,' except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?"

The Supreme Court on Monday delivered a blow to Minnesota’s attempt to prevent young adults from obtaining permits to carry firearms in public.

The court, which frequently backs gun rights, rejected the state’s appeal of a ruling that said a law banning 18-to-20-year-olds from applying for such permits violated the Constitution’s 2nd Amendment, which protects the right to bear arms.

Although the court did not issue a ruling in the case, it sends a signal that similar laws, including one at the federal level, could be under threat in future.

The high court on Monday also turned away a separate gun case involving a challenge to the University of Michigan’s ban on possessing firearms on campus. That is also an issue that is likely to return to the court.

Read the full story at NBCNews.com.

U.S. Vice President JD Vance will embark on a four-day visit to India on Monday as the two countries seek to unlock economic opportunities and negotiate a bilateral trade deal.

Vance will meet Prime Minister Narendra Modi in New Delhi for talks on the economy, trade and geopolitical ties. Vance’s visit is seen as an important diplomatic mission by President Donald Trump’s administration, and it coincides with a rapidly intensifying trade war between Washington and Beijing, which is New Delhi's main rival in the region.

A trade deal between India and the U.S. could significantly enhance economic ties between the two countries and potentially strengthen diplomatic ties.

More on the story here.

Hegseth suggested that disgruntled former employees who were recently fired leaked the information about his use of Signal group chats to the media.

“You know, what a big surprise that a bunch of leakers get fired and suddenly a bunch of hit pieces come out from the same media that pedaled the Russia hoax," Hegseth told reporters at the White House when asked about the latest revelations.

Two sources with knowledge of the matter told NBC News that Hegseth shared information about military strikes in Yemen in a Signal group chat that included his wife and his brother. The New York Times was the first to report the news, citing four unnamed sources.

"This is what the media does," Hegseth said this morning. "They take anonymous sources from disgruntled former employees, and then they try to slash and burn people and ruin their reputations. Not going to work with me."

Several top Pentagon aides working for Hegseth were fired in recent weeks. John Ullyot, a former aide, wrote in an op-ed for Politico that officials working for Hegseth tried to smear the fired aides, "claiming they were fired for leaking sensitive information as part of an investigation ordered earlier this month ... none of this is true." Ullyot said he "was not a victim of this purge" and had left voluntarily.

China on Monday warned it will retaliate against countries that cooperate with the U.S. in ways that compromise Beijing's interests, as the trade war between the world's two largest economies threatens to embroil other nations.

China's warning comes as U.S. President Donald Trump's administration is reportedly planning to use tariff negotiations to pressure U.S. partners to limit their dealings with China. Trump this month paused major tariff increases on other countries for 90 days, while hiking duties further on goods from China to 145%.

"China firmly opposes any party reaching a deal at the expense of China's interests. If this happens, China will not accept it and will resolutely take reciprocal countermeasures," the Chinese Ministry of Commerce said, according to a CNBC translation.

The ministry cautioned about the risk to all countries once international trade returns to the "law of the jungle."

Read the full story here.