Global tariff wars, multi-country travel bans, detentions and phone-seizures at the border. President Trump’s “America first” policies create a grim picture for one group in particular: international tourists.

Foreign visitors to the US have been on the rise since the pandemic, with analysts previously expecting 2025 to be a bumper year for tourism. That is, until President Trump’s second term began. This drop in tourism is forecasted to cost the American economy $12.5 billion this year.

On Today’s episode of the Big Take, host David Gura sits down with Bloomberg reporter and Big Take Asia host K. Oanh Ha to look at the state of the tourism industry in the US, and where in the world tourists are going instead.

Read more:

• Trump’s $12 Billion Tourism Wipeout
• The US Is on Track to Lose $12 Billion in Travel Revenue in 2025

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As the debate about President Trump’s tax bill — known as the “One Big Beautiful Bill” — plays out among lawmakers in Washington, there’s been increasingly heated criticism of the non-partisan Congressional Budget Office. It calculates the costs and savings from the bill — including from the White House.

On today’s episode of the Big Take, host Saleha Mohsin sits down with CBO director Phillip Swagel to hear how his agency churns out economic forecasts from inside the center of a political storm.

Further listening: Stephen Miran Explains Why There’s No Secret Dollar Pact

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Teams from China used to dominate international hacking competitions, until Beijing ordered them to stop attending and take part only in domestic tournaments.

On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Jamie Tarabay about how tournaments are helping boost China’s cyber-espionage capabilities and what that means for the world.

Read more: Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions - Bloomberg

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