The US government is required to pay back $166 billion in revenue it collected as part of sweeping global tariffs struck down by the Supreme Court earlier this year.

On today’s Big Take podcast, host David Gura talks with Bloomberg economics reporter Laura Curtis and a trade expert in the field about the logistics of that payout, whether any of that money will reach consumers and how political pressure might push some companies to skip a refund altogether.

Read more: 
Oaktree Capital Accuses BJ’s of Breaching Tariff Refund Deal 
In Tariff Refund Process, First Payment Set to Go Out May 11 

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Laura Curtis; Edited by Jeffrey Grocott and Tracey Samuelson.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The US government is required to pay back $166 billion in revenue it collected as part of sweeping global tariffs struck down by the Supreme Court earlier this year.
On today&rsquo;s Big Take podcast, host David Gura talks with Bloomberg economics reporter Laura Curtis and a trade expert in the field about the logistics of that payout, whether any of that money will reach consumers and how political pressure might push some companies to skip a refund altogether.
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-04-28/oaktree-capital-accuses-bj-s-of-reneging-on-tariff-refund-trade">Oaktree Capital Accuses BJ&rsquo;s of Breaching Tariff Refund Deal</a>&nbsp;</li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-04-28/in-tariff-refund-process-us-says-15-of-entries-denied-so-far">In Tariff Refund Process, First Payment Set to Go Out May 11</a>&nbsp;</li>
</ul>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Laura Curtis; Edited by Jeffrey Grocott and Tracey Samuelson.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

How the US Government Plans to Refund $166 Billion in Tariffs

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/95ec8d94-74b4-4963-b71e-b43c015f2d78/transcript

Hundreds of hydropower workers remain missing in Nepal after a glacial collapse caused catastrophic flooding. The disaster laid bare the rising climate risks across Asia and the danger of building in an increasingly volatile environment.

On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins sits down with Bloomberg’s Clara Ferreira Marques and Bloomberg Opinion’s David Fickling to talk about the human and economic toll of the disaster, why the catastrophe is a warning for the rest of the world and how Nepal’s big bet on clean energy may now be at risk.

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Clara Ferreira Marques, David Fickling; Edited by Paddy Hirsch, Crispina Robert and Tracey Samuelson.

Fact-checking by Naomi Ng; Engineering by Alex Sugiura

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

Hundreds of hydropower workers remain missing in Nepal after a glacial collapse caused catastrophic flooding. The disaster laid bare the rising climate risks across Asia and the danger of building in an increasingly volatile environment.
On today&rsquo;s Big Take Asia podcast, guest host Rebecca Choong Wilkins sits down with Bloomberg&rsquo;s Clara Ferreira Marques and Bloomberg Opinion&rsquo;s David Fickling to talk about the human and economic toll of the disaster, why the catastrophe is a warning for the rest of the world and how Nepal&rsquo;s big bet on clean energy may now be at risk.
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Clara Ferreira Marques, David Fickling; Edited by Paddy Hirsch, Crispina Robert and Tracey Samuelson.
Fact-checking by Naomi Ng; Engineering by Alex Sugiura
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

Deadly Flooding in Nepal Highlights Asia’s Climate Vulnerability

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2190b992-2598-4e23-8742-b4b9014943c5/transcript

Russia escalated attacks on the Ukrainian capital of Kyiv this past weekend. It’s the latest signal that Ukraine could face a brutal, decisive winter in this conflict.

Meanwhile, the CIA director paid Moscow a visit last week, and “hybrid” attacks in Europe that have been linked to Russia are heightening concern among NATO countries that the conflict could widen as Russia takes the upper hand. 

On today’s Big Take podcast, host Sarah Holder and Bloomberg Opinion’s Marc Champion unpack the latest developments in the Russia-Ukraine war, the state of European and American involvement and why the next few months could be so crucial. 

Read more: 
Russia’s Escalating Hybrid Attacks Put Europeans in a Bind 
Ukraine Is In More Danger Than It Seems

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guest: Marc Champion; Edited by Naomi Shavin. Fact-checking by Big Take team; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Russia escalated attacks on the Ukrainian capital of Kyiv this past weekend. It&rsquo;s the latest signal that Ukraine could face a brutal, decisive winter in this conflict.
Meanwhile, the CIA director paid Moscow a visit last week, and &ldquo;hybrid&rdquo; attacks in Europe that have been linked to Russia are heightening concern among NATO countries that the conflict could widen as Russia takes the upper hand.&nbsp;
On today&rsquo;s Big Take podcast, host Sarah Holder and Bloomberg Opinion&rsquo;s Marc Champion unpack the latest developments in the Russia-Ukraine war, the state of European and American involvement and why the next few months could be so crucial.&nbsp;
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-08-26/russia-is-escalating-hybrid-attacks-and-europe-has-no-answer">Russia&rsquo;s Escalating Hybrid Attacks Put Europeans in a Bind</a>&nbsp;</li>
<li aria-level="1"><a href="https://www.bloomberg.com/opinion/articles/2026-08-24/from-grain-to-refugees-winter-is-coming-for-ukraine-this-time?srnd=undefined">Ukraine Is In More Danger Than It Seems</a> </li>
</ul>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guest: Marc Champion; Edited by Naomi Shavin. Fact-checking by Big Take team; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

CIA Director Visits Moscow As Ukraine Stares Down a Dangerous Winter

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a94bd579-f9a5-40c4-9a20-b4b801574e4d/transcript

Meta has agreed to pay a $17 billion settlement over a range of claims related to the safety and privacy of its platforms, including youth use of social media. The outcome, announced last week, could have implications for other companies, too.

On today’s Big Take Podcast, Bloomberg investigative reporter Olivia Carville talks to host Sarah Holder about the landmark case, and how new information about the death of a teenage TikTok user in 2022 could shape the debate around child safety online.

If you or someone you know is having thoughts of suicide or self-harm, a global list of helplines is available at blog.opencounseling.com/suicide-hotlines.

Read more: TikTok Withheld a Safety Feature From Millions. One Died by Suicide

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Olivia Carville; Edited by Aaron Edwards and Julia Weaver. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Meta has agreed to pay a $17 billion settlement over a range of claims related to the safety and privacy of its platforms, including youth use of social media. The outcome, announced last week, could have implications for other companies, too.
On today&rsquo;s Big Take Podcast, Bloomberg investigative reporter Olivia Carville talks to host Sarah Holder about the landmark case, and how new information about the death of a teenage TikTok user in 2022 could shape the debate around child safety online.
If you or someone you know is having thoughts of suicide or self-harm, a global list of helplines is available at <a href="https://blog.opencounseling.com/suicide-hotlines/">blog.opencounseling.com/suicide-hotlines</a>.
Read more:&nbsp;<a href="https://www.bloomberg.com/news/features/2026-08-04/confidential-tiktok-report-shows-algorithm-safety-feature-withheld-from-millions">TikTok Withheld a Safety Feature From Millions. One Died by Suicide</a>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Olivia Carville; Edited by Aaron Edwards and Julia Weaver. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

TikTok Experimented With Users’ Algorithms. One Died By Suicide

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/84f9383d-93e7-4ace-9c5c-b4b70159a85b/transcript

How the US Government Plans to Refund $166 Billion in Tariffs

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