Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers. 

In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.

Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers. 
In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.

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

The Cocoa Shortage Rocking the Chocolate World

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/466019f6-9f24-4034-920c-b155016e0d2a/transcript

As President Trump paused strikes on Iran over the weekend, he ratcheted up pressure on another front: his renewed trade war.

On Friday, the US president imposed levies of 10 or 12.5% on 60 economies, the first in many steps to rebuild the tariff wall destroyed when the Supreme Court overturned Trump’s IEEPA tariffs in February.

On today’s Big Take podcast, Bloomberg’s global trade editor Brendan Murray sits down with host David Gura to break down the latest tariffs, what they reveal about the administration’s new strategy and whether they’ll hold up in court.

Read more:
Trump Rebuilds Tariffs With New Levies on 60 Economies
How Trump’s Section 301 Tariffs Are Being Challenged in Court

Watch more:

US Trade Rep. Greer on China Relations and Section 301 Tariffs

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

Hosted by David Gura; Produced by Julia Press and Rachael Lewis-Krisky; Reported by Brendan Murray; Edited by Nicole Beemsterboer. Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger.

As President Trump paused strikes on Iran over the weekend, he ratcheted up pressure on another front: his renewed trade war.
On Friday, the US president imposed levies of 10 or 12.5% on 60 economies, the first in many steps to rebuild the tariff wall destroyed when the Supreme Court overturned Trump&rsquo;s IEEPA tariffs in February.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s global trade editor Brendan Murray sits down with host David Gura to break down the latest tariffs, what they reveal about the administration&rsquo;s new strategy and whether they&rsquo;ll hold up in court.
Read more:
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-07-23/us-sets-new-forced-labor-duties-as-trump-resurrects-tariff-wall?srnd=homepage-uk">Trump Rebuilds Tariffs With New Levies on 60 Economies</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-07-26/trump-s-section-301-tariffs-how-they-re-being-challenged-in-court">How Trump&rsquo;s Section 301 Tariffs Are Being Challenged in Court</a></li>
</ul>
Watch more:
<a href="https://www.bloomberg.com/news/videos/2026-07-16/us-trade-rep-greer-on-global-trade-section-301-tariffs-video">US Trade Rep. Greer on China Relations and Section 301 Tariffs</a>
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 Julia Press and Rachael Lewis-Krisky; Reported by Brendan Murray; Edited by Nicole Beemsterboer. Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger.

Trump Rebuilds His Tariff Wall, Brick by Brick

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/35bf4e75-7261-4b59-8028-b494012c7ea6/transcript

As wealth becomes increasingly concentrated — and artificial intelligence threatens to shift even more income from workers to investors — has the US tax system become outdated? On this Weekend Listen, Trumponomics' Stephanie Flanders speaks with Harvard professor Jason Furman, a former economic adviser to President Barack Obama, and Bloomberg reporter Caitlin Reilly about wealth taxes, capital gains, inheritance and whether taxing America's richest is politically or constitutionally possible.

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

As wealth becomes increasingly concentrated &mdash; and artificial intelligence threatens to shift even more income from workers to investors &mdash; has the US tax system become outdated? On this Weekend Listen, Trumponomics' Stephanie Flanders speaks with Harvard professor Jason Furman, a former economic adviser to President Barack Obama, and Bloomberg reporter Caitlin Reilly about wealth taxes, capital gains, inheritance and whether taxing America's richest is politically or constitutionally possible.
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>

Weekend Listen: Can the US Actually Tax Billionaires?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/82b681f4-1674-4266-ba0d-b49101122889/transcript

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those “chargebacks” are legitimate issues or outright scams. But increasingly, many are what Bloomberg Businessweek reporter Amanda Mull says is friendly fraud — transaction disputes that aren’t completely honest or the retailer’s fault.

On today’s Big Take podcast, Mull joins host Sarah Holder to discuss the sharp rise in chargebacks, and the consequences of this trend for retailers, banks and consumers.

Read more: Credit Card Holders Are Using ‘Friendly Fraud’ to Get Back at Retailers

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

Hosted by Sarah Holder; Produced by Julia Press; Reported by Amanda Mull; Edited by Naomi Shavin.

Fact-checking by Laura Newcombe; Engineering by Sean Carter.

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

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those &ldquo;chargebacks&rdquo; are legitimate issues or outright scams. But increasingly, many are what Bloomberg Businessweek reporter Amanda Mull says is friendly fraud &mdash; transaction disputes that aren&rsquo;t completely honest or the retailer&rsquo;s fault.
On today&rsquo;s Big Take podcast, Mull joins host Sarah Holder to discuss the sharp rise in chargebacks, and the consequences of this trend for retailers, banks and consumers.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-07-13/credit-card-holders-are-using-friendly-fraud-to-get-back-at-retailers?srnd=homepage-americas">Credit Card Holders Are Using &lsquo;Friendly Fraud&rsquo; to Get Back at Retailers</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 Julia Press; Reported by Amanda Mull; Edited by Naomi Shavin.
Fact-checking by Laura Newcombe; Engineering by Sean Carter.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

One Weird Trick to Get Your Credit Card Charge Reversed? Fraud.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/501ec796-7e02-4eb3-9bce-b49101130e7f/transcript

The Cocoa Shortage Rocking the Chocolate World

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