As Donald Trump’s administration settles into a global trade war — at least momentarily obscuring its war on the federal government and on the limitation of executive power, which continues on many fronts — it’s a good time for a reality check on the political capital he carries into the next turbulent phase of his second presidency.

The Trump administration is pressing Harvard University to turn over records on the money it receives from foreign sources going back a decade, the latest in a growing pressure campaign against the nation’s most prominent university.

The administration said Harvard must share detailed records about its foreign students, an escalation in Trump's fight against prominent American schools.

"There will be a trade deal 100%," Trump said ahead of a luncheon at the White House with Italian Prime Minister Giorgia Meloni. "I fully expect it."

Trump’s call for Powell’s ousting comes after the markets tumbled in response to his comments yesterday that tariffs could spur price hikes and further weaken the economy. Trump’s post also came shortly after the European Central Bank lowered rates by a quarter point this morning,

President Donald Trump on Thursday ratcheted up his criticism against Federal Reserve Chair Jerome Powell, calling for his “termination” for not cutting interest rates quickly enough. His comments come one day after the central bank chief delivered a stark warning about the effect of Trump’s sweeping tariffs on the economy.