After Liberation Day: Who is footing the tariffs bill?

For nearly 12 months, a raft of import duties - tariffs - have made it much more expensive to ship consumer goods into the United States. They have shaken up global trade and according to the Federal Reserve, significantly raised inflation. But who is really footing the bill for all of them?To get in touch with the team, our email address is [email protected]: Ed Butler Producers: Rebecca Smyllie and Craig HendersonBusiness Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business.Each episode is a 17-minute, daily deep dive into a single topic, featuring expert analysis and the people at the heart of the story.Recent episodes explore the weight-loss drug revolution, the growth in AI, the cost of living, the economic impact of the war in the Middle East, and why bond markets are so powerful.We also feature in-depth interviews with company founders and some of the world's most prominent CEOs. These include Google's Sundar Pichai, Wikipedia founder Jimmy Wales, and the CEO of Canva, Melanie Perkins.(Photo: US President Donald Trump delivers remarks on reciprocal tariffs as US Secretary of Commerce Howard Lutnick holds a chart during a Make America Wealthy Again event at the White House, Washington DC, 2 April 2025. Credit: Getty Images)