Corporate America Is Picking Up the Tab for Trump’s Tariffs

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 25 July 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 25. American corporations have paid much of the additional $55 billion in tariffs that the U.S. has collected this year. WSJ economics reporter Jeanne Whalen explains why these companies are footing the bill, and when we might expect to see those costs passed on to consumers. Plus, earlier this week Columbia University agreed to pay the Trump administration $200 million to restore its federal funding. We hear from WSJ White House reporter Natalie Andrews about how this agreement may provide a blueprint for negotiations with other schools. And banks are getting picky about who they want as credit card customers. WSJ personal economics reporter Imani Moise discusses what kinds of customers they’re looking for, and the impact this higher bar could have on consumers. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	From AI adoption to building stronger teams, hear how today's leaders are putting strategy into motion,
0:06.1	stay informed and inspired with the Executive Insights podcast.
0:10.1	Brought you by AWS, available on all major podcast platforms.
0:18.7	American corporations are footing the bill for Trump's tariffs as hopes rise for a trade deal
0:23.7	between the U.S. and Europe.
0:25.9	Plus, banks are getting pickier about who they want to hold their credit cards.
0:29.8	It shows that banks are cautious.
0:31.5	The economy continues to be really, really strong, but there are some concerns.
0:36.0	So they are hedging a bit by focusing on customers that they see as safer.
0:41.4	And how the Trump administration is looking to strike deals with universities like it did with
0:46.6	Columbia.
0:47.7	It's Friday, July 25th.
0:49.7	I'm Alex Osloaf for the Wall Street Journal.
0:51.6	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:03.4	The U.S. has collected an additional $55 billion in tariffs this year.
1:08.3	So far, corporate America has largely shouldered the bill. Now,
1:12.4	who's making that first payment isn't much of a mystery. Tariffs are typically paid by importers
1:17.1	when goods reach U.S. ports, so it's usually a manufacturer, a logistics, or a customs broker,
1:22.3	or a retailer that ordered the shipment. But economists and others have been watching for signs
1:27.1	of who will ultimately bear the cost. For more, others have been watching for signs of who will
1:27.7	ultimately bear the cost. For more, I'm joined by Wall Street Journal economics reporter,
1:32.4	Gene Whalen. Gene, what is the strategy for businesses to be shouldering this cost right now?
	...

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