Mark Cuban, billionaire and former supporter of Harris’s campaign, recently expressed concern over the economic consequences of President-elect Trump’s proposed tariffs. Trump’s plan involves a broad tariff on all imported goods, along with a specific tax on imports from China, a major trading partner of the United States.
Cuban shared on Threads that companies importing from China are using any available cash to stockpile goods, anticipating the tariffs and the increased demand that may follow. “That cash could have been allocated for growth, employee raises, bonuses, and other operational needs,” he noted.
Cuban suggests Trump’s import tax could hinder business expansion and raise prices
Trump has promoted tariffs as a method to strengthen the U.S. economy, proposing taxes on all foreign goods and even higher tariffs on Chinese imports. His prior administration imposed tariffs on China and restructured NAFTA to align with his protectionist agenda.
However, economists have raised concerns about tariffs potentially fueling inflation, as they increase the cost of imported goods for consumers and businesses alike. Trump’s plan for a general 10–20 percent import tax could disrupt existing trade agreements, possibly inviting retaliatory actions from trading partners.
The idea of a steep 60 percent tariff specifically targeting Chinese goods has also alarmed both U.S. businesses and Chinese authorities. Chinese officials have stressed the importance of stable global supply chains and expressed a desire to avoid trade conflicts. In a recent PwC survey, 75 percent of business executives said a 10 percent tariff on general imports would impede their growth plans.
In his Threads posts, Cuban pointed out that exporters are already anticipating retaliatory tariffs, urging their Chinese buyers to stock up on goods in advance, mirroring American companies’ preemptive buying.
According to Cuban, this creates a spike in sales but also forces businesses to quickly procure all necessary materials, which could result in increased costs due to supply shortages.
