Everybody's Business: Trade War Winners and Harvard’s $2 Billion “No”

Key takeaways

The trade war instituted by the Trump administration is affecting various industries differently; Nvidia and soybean farmers are experiencing significant negatives, while companies like Apple could benefit from strategic positioning.
Harvard’s refusal to comply with Trump administration demands places it at risk of losing federal funding and tax-exempt status, raising important questions about the relationship between federal support and higher education.
The recent suborbital flight featuring an all-female crew raises discussions about gender representation in space travel, despite mixed reactions to the approach and messaging of those involved.

Summary

Understanding Trade War Winners and Losers

In this episode, Brad Stone and Stacey Vanek Smith discuss the evolving landscape of the ongoing trade war initiated by the Trump administration. They highlight the initial impacts of tariffs, focusing on both winners and losers within various industries. Key players such as Nvidia and soybean farmers face significant challenges due to new tariffs, while companies like Apple seem poised to navigate the uncertainty successfully. The discussion also touches on consumer sentiment, as Americans grapple with anxiety over economic stability and trading policies, leading to varied spending behaviors.

Harvard's Stance Against the Trump Administration

The show shifts gears to cover Harvard University’s recent confrontation with the Trump administration regarding demands such as banning masks on campus and altering Diversity, Equity, and Inclusion programs. Following Harvard’s refusal to comply, the administration has frozen $2 billion in federal funding and threatened to revoke its tax-exempt status. Janet Lorin, an expert in higher education finances, underscores the implications of this move for Harvard and other universities. The conversation explores the essential role federal funding plays in higher education and the broader ramifications if institutions lose access to such support.

Women in Space: A New Era of Visibility

In an unexpected pivot, the podcast details an all-female crew's recent voyage to the edge of space aboard Jeff Bezos' Blue Origin rocket. This mission, featuring figures like Gayle King and Katy Perry, garners both admiration and criticism, particularly with regard to the portrayal and behavior of the crew. The hosts debate the significance of this milestone against the backdrop of the criticism faced by such high-profile ventures, while noting that the journey contributes to Jeff Bezos' vision of routine space travel and highlights the ongoing dialogues around gender representation in STEM fields.

Show notes

In the third (semi-secret) episode of Bloomberg Businessweek's new podcast Everybody’s Business, Businessweek Editor Brad Stone fills in for Max Chafkin and joins Stacey Vanek Smith to talk trade war winners an losers. Though uncertainty still surrounds many of the Trump Administration's tariff policies, some trends are starting to emerge. Brad and Stacey select their winners and losers based on what we know so far.

And Harvard University is making headlines this week as it pushed back against Trump Administration demands. Now the University is at risk of losing billions of dollars in federal funding as well as its tax exempt status. Reporter Janet Lorin has been following the story and explains the stakes: What does it mean for universities if they lose federal money and why is the story captivating us so much?

Finally, Everybody's Business goes to space. A group of women, including entertainer Katie Perry and CBS's Gayle King, went on a short trip to space. The voyage has been heavily critiqued, but Brad argues that this is, indeed, a milestone.

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