Big Take Podcast

Tariffs 101: How They Work and Who’s Footing the Bill (So Far)

Today on the Big Take: The Trump administration says the tariffs raised nearly $30 billion in July. What do we know about who’s paying them so far?

A container ship leaves the Port of Newark in Elizabeth, New Jersey.
Photographer: Michael Nagle/Bloomberg

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By Sarah Holder and David Fox

August 11, 2025 at 9:56 PM UTC

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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?