Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week Arizona State University’s president, Michael Crow, explained how it’s adapting to AI, and we traveled to Lesotho to see what President Trump’s tariffs are doing to a small country’s economy. If you’re not yet a subscriber, sign up here for this newsletter.

AI as a Springboard

The Trump administration struck a deal this week with the University of Virginia requiring it to provide the government with data on its admissions and hiring processes, as well as campus programming, through 2028.

Such actions may or may not fundamentally alter the way students receive their higher education. But whether they do or not, there’s another change already taking place that will undoubtedly transform how students are taught and what they do with that knowledge: artificial intelligence.

We talked with the head of one of the largest universities in the US, Arizona State, about how it’s already utilizing AI.

Big Tariffs, Small Country

On “Liberation Day” back in April, President Trump threatened to impose especially steep tariffs on about 60 countries.

Big trading partners such as China, the European Union, Japan and Vietnam were at the top of the list. But the Trump administration also targeted tiny Lesotho, a country of 2.4 million people in Southern Africa.

The president initially imposed a tariff of 50% on all imports from Lesotho and later reduced that to 15%. To the US, it may be a rounding error, as it imports only $235 million in goods a year from the country, as The New York Times reported. That’s about 0.00081% of US GDP. But to Lesotho, it’s serious business.

We traveled to Lesotho to see for ourselves what the president’s actions mean for a country that Trump says no one has even heard of.

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