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

For years, Mackeys Ferry Sawmill in North Carolina relied on exporting its goods to China and Vietnam after a dip in domestic demand for high-quality hardwood. But President Donald Trump’s trade war with China dealt a blow that the mill’s owners say they couldn’t come back from. In July, just months after the president announced his “Liberation Day” tariffs, they decided to shut it down.

On today’s Big Take podcast, Bloomberg economics reporter Shawn Donnan goes to the “Old North State” to understand the ripple effect of tariffs on one of the oldest industries in America and how the mill’s owner feels about Trump and his policies, one year after voting for him in the ballot booth.

Listen more: The Most Worrying — and Reassuring — Signals in the US Economy

For years, Mackeys Ferry Sawmill in North Carolina relied on exporting its goods to China and Vietnam after a dip in domestic demand for high-quality hardwood. But President Donald Trump&rsquo;s trade war with China dealt a blow that the mill&rsquo;s owners say they couldn&rsquo;t come back from. In July, just months after the president announced his &ldquo;Liberation Day&rdquo; tariffs, they decided to shut it down.
On today&rsquo;s Big Take podcast, Bloomberg economics reporter Shawn Donnan goes to the &ldquo;Old North State&rdquo; to understand the ripple effect of tariffs on one of the oldest industries in America and how the mill&rsquo;s owner feels about Trump and his policies, one year after voting for him in the ballot booth.
Listen more: <a href="https://omny.fm/shows/the-big-take/the-most-worrying-and-reassuring-signals-in-the-us-economy">The Most Worrying &mdash; and Reassuring &mdash; Signals in the US Economy</a>

They Voted for Trump. His Tariffs Took Down Their Family-Owned Sawmill

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c251605d-5866-4dd2-9e82-b39501667bb0/transcript

In recent weeks, a number of economic warning signs have put investors on edge, from growing skepticism over the possibility of an AI bubble to bankruptcies that have rocked the private credit market.

On today’s Big Take podcast, Bloomberg Opinion columnist and senior markets editor John Authers and host David Gura tackle the question: How worried should we be about the US economy?

In recent weeks, a number of economic warning signs have put investors on edge, from growing skepticism over the possibility of an AI bubble to bankruptcies that have rocked the private credit market.
On today&rsquo;s Big Take podcast, Bloomberg Opinion columnist and senior markets editor John Authers and host David Gura tackle the question: How worried should we be about the US economy?

The Most Worrying — and Reassuring — Signals in the US Economy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/784fd04b-a9d6-4db3-9efa-b3940167e480/transcript

When President Trump took office in January, he made it clear that retribution against his perceived political enemies was a key part of his second-term agenda.

He’s used a variety of tools at his disposal — and with his encouragement, the Department of Justice has indicted former FBI Director James Comey, New York State Attorney General Letitia James and former National Security Advisor John Bolton.

On today’s Big Take podcast, host Sarah Holder is joined by Bloomberg senior national political reporter Nancy Cook and Department of Justice reporter Chris Strohm to talk about how these cases are playing out and the new precedent they could set for future administrations.

When President Trump took office in January, he made it clear that retribution against his perceived political enemies was a key part of his second-term agenda. He&rsquo;s used a variety of tools at his disposal &mdash; and with his encouragement, the Department of Justice has indicted former FBI Director James Comey, New York State Attorney General Letitia James and former National Security Advisor John Bolton. On today&rsquo;s Big Take podcast, host Sarah Holder is joined by Bloomberg senior national political reporter Nancy Cook and Department of Justice reporter Chris Strohm to talk about how these cases are playing out and the new precedent they could set for future administrations.

Trump Promised Revenge. He’s Using the DOJ to Make It Happen

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8d7dbda3-1dc5-4289-9beb-b393016ec710/transcript

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

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