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