US President Donald Trump has frozen $2.2 billion in funding allocated to Harvard University after the institution refused to implement new policy changes proposed by his administration.

This move is part of a broader effort by Trump to reshape academic institutions, following recent changes in administrative policies within the White House.

Trump’s proposed reforms for universities include limiting faculty authority, enforcing restrictions on student protests—such as bans on mask-wearing during demonstrations—and reducing diversity in student admissions.

Harvard rejected these proposals, citing the importance of preserving academic independence, prompting Trump to retaliate by suspending the massive fund.

The university has since filed a legal case seeking to lift the funding freeze, citing the potential harm to academic programs and research initiatives.

In a parallel development, Trump has reignited concerns over international trade, hinting at renewed tariffs on smartphones and announcing forthcoming import duties on pharmaceuticals.

Although tariffs on smartphones and computers were officially rolled back last Friday, Trump later suggested they might return under a different classification—potentially moving smartphones into the semiconductor category.

White House officials confirmed this possibility, signaling more economic volatility. Trump also hinted at significant new tariffs in the pharmaceutical sector, declaring his intention to make the US self-sufficient in medicine production. Analysts warn these moves could deeply affect exporters like India and China.

Meanwhile, global stock markets are reacting sharply to Trump’s unpredictable policy shifts. On Monday, Asian markets rebounded slightly, but the volatility continues. Japan’s Nikkei rose 1.9%, Hong Kong’s Hang Seng gained 2.4%, while Taiwan’s market dipped after an early surge. Taiwan’s President Lai Ching-te noted that trade discussions with the US are progressing and hopes to turn the crisis into an opportunity.

Despite the fluctuations, small investors and businesses are bearing the brunt. One investor remarked, “My years of effort disappeared overnight. Every time Trump speaks, the markets freeze. It feels like the end of the financial world.”

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Experts believe the uncertainty created by Trump’s spontaneous tariff strategies—especially since the April 2 policy announcements—has left global investors on edge, signaling major shifts in the world economy.