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The Winners and Losers of Trump’s New Tariff Reality | Big Take

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February 23, 2026

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From Brussels to Beijing, the United States’ largest trading partners are digesting the Supreme Court’s decision to overturn President Trump’s signature tariffs — along with his threats to impose new, potentially stickier levies by other means.

On today’s Big Take podcast, Big Take Asia host K. Oanh Ha sits down with Bloomberg China economy and government editor Jenni Marsh and Bloomberg’s top trade editor Brendan Murray to discuss the global reaction to Trump’s tariff setback: how countries like China are pushing for more favorable terms, the additional levers Trump is using to build a “tariff wall” around the US and what this could mean for the future of global trade.

Hosted by K. Oanh Ha and Sarah Holder; Produced by Naomi Ng and Julia Press; Reported by Jenni Marsh and Brendan Murray; Edited by Paddy Hirsch;

Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Katie McMurran

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

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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.

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The Winners and Losers of Trump’s New Tariff Reality

Guests & Subjects Covered

From BrusselsUnited StatesSupreme CourtsPresident TrumpsBig TakeBig Take AsiaK Oanh HaBloomberg China

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The Winners and Losers of Trump’s New Tariff Reality | Big Take · Bloomberg Podcasts · Sentinel