Mark Cuban makes a harsh comment about tariffs
When it comes to sensitive topics in the public sphere, there’s one on most people’s minds right now, and that’s the tariffs that President Donald Trump announced on April 2 — a day he called “Liberation Day.”
Who feels a sense of liberation in this situation is still up for debate. It’s certainly not the tech industry, which is currently struggling to figure out ways to pull its manufacturing out of China, so as not to face the 145% tariff the president has currently slapped on the country.
💰💸 Don’t miss the move: Subscribe to TheStreet’s free daily newsletter💰💸
CEOs of big companies have been upfront and proactive about their plans. Apple’s Tim Cook, for instance, has announced that it will shift U.S. iPhone production to India — but that even so, tariffs will cost Apple $900 million during this quarter alone.
Others have also been unable to avoid taking damage. In April, Nvidia announced it would take a $5.5 billion financial hit due to restrictions placed on the export of its H20 artificial intelligence chips to China. U.S. toy makers are grappling with the reality that 80% of toys are made in China, with Mattel recently announcing that it’s weighing potential price increases.
Related: Ford, Mattel join growing list of U.S. companies facing profit hit from tariffs
It’s no surprise that the turmoil caused by the tariffs has caused both individuals and industries to question the Trump administration’s motives. It hardly seems like any of these changes will accomplish “making America great again.” And as President Trump has already put a 90-day pause on most tariffs (excluding China) and begun to publicly soften his stance, one has to wonder if he feels as assured about this grand plan as he initially seemed to.
One fellow billionaire not only disagrees with his plan, but finds some major irony in it, and wasted no time putting his opinion on social media (as he often does).
Image source: Travis P. Ball/Getty Images
Mark Cuban pokes fun at President Donald Trump
In a post on BlueSky shared on May 4, Cuban pointed out an interesting tidbit about the infamous “Make America Great Again” merchandise that MAGA enthusiasts so proudly wear.
“Given that most, if not all MAGA merch is made in China, I’ll be really curious to see what happens to their pricing and availability,” he said.
More Tariffs:
- Tesla, Elon Musk make drastic decision amid U.S.-China trade war
- Major U.S. automaker makes harsh decision in the wake of tariff tussle
- Tariffs will devastate this entire industry
BlueSky user pastajoe replied in the comments to illustrate Cuban’s point, posting a side-by-side image of a red MAGA cap and a Biden baseball cap with the manufacturing tags showing. The MAGA hat says Made in China, while the Biden hat was made in the USA.
Related: Tariffs will devastate this entire industry
User Shannon Zak also poked fun at Trump’s comments about the devastating effects of tariffs on the toy market, to which Trump famously said in interviews, “Well, the children will have two dolls instead of 30 dolls. And maybe the two dolls will cost a couple of bucks more than they would normally.”
“I guess the little girls will only need one MAGA hat instead of 37,” she said.
On May 5, Cuban also shared what looks to be a Photoshopped image of a MAGA hat with a sign that reads “Sale: $102” under it.
View the original article to see embedded media.
Mark Cuban is not afraid of confrontation
Cuban is known for regularly calling out things he sees as unfair or unjust on social media, especially when it comes to other billionaires.
He also on May 4 reposted a clip on X of President Trump during an interview where he was asked, “Are you considering tariff relief for small businesses?” and Trump replied, “Why do you always mention, you know, a couple of little businesses. What about the car business?”
In his post, Cuban said, “Should small businesses be ignored? Or are big industries all that matter?”
Another person Cuban frequently targets is Tesla CEO Elon Musk, historically challenging him on everything from decisions about X, the social media platform Musk owns, to his general business decisions. But despite that, Cuban has made remarks that indicate he may also respect Musk, going as far as to say he would like to collaborate and that he’s “ready at any time.”
Related: Mark Cuban has a bold offer for Elon Musk
#Mark #Cuban #harsh #comment #tariffs
