President Trump’s so-called reciprocal tariffs have pushed the average US tariff rate to 15%, up from just over 2% last year. But who’s actually footing the bill so far?

On today’s Big Take podcast, Bloomberg Businessweek’s “Everybody’s Business” host Stacey Vanek Smith takes Sarah Holder through Tariff 101: How is that money being collected and where is it going?

Read more: It’s Only a Matter of Time Until Americans Pay for Trump’s Tariffs

President Trump&rsquo;s so-called reciprocal tariffs have pushed the average US tariff rate to 15%, up from just over 2% last year. But who&rsquo;s actually footing the bill so far?
On today&rsquo;s Big Take podcast, Bloomberg Businessweek&rsquo;s <a href="https://link.podtrac.com/eck2usv5">&ldquo;Everybody&rsquo;s Business&rdquo;</a> host Stacey Vanek Smith takes Sarah Holder through Tariff 101: How is that money being collected and where is it going?
Read more: <a href="https://www.bloomberg.com/news/articles/2025-08-07/trump-s-tariffs-will-find-their-way-to-us-consumers-in-the-end?srnd=undefined">It&rsquo;s Only a Matter of Time Until Americans Pay for Trump&rsquo;s Tariffs</a>

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

Who’s Really Paying for Tariffs? Hint: It’s Not Foreign Companies

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/39883616-f4e7-45cf-bc20-b33601580595/transcript