The recent tariffs passed by the U.S. government have wreaked havoc on the U.S. economy over the past few days, pushing down even the strongest sectors.
With consumers bracing for substantial price increases and companies maneuvering to avoid being drowned in higher operational costs, most of the U.S. economy is in panic mode.
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This is a far cry from the impact President Donald Trump promised his tariffs would have, presenting them as a means of spurring economic growth and creating more jobs for U.S. workers.
Right now, many questions abound regarding how long these tariffs will last and the best ways to stay ahead of them and avoid financial losses. Economic experts have made many predictions, most grim, anticipating the outcome of the trade war. But Mark Cuban recently issued a surprising forecast regarding the overall winner.
Mark Cuban has blunt 11-word take on the trade war
Since before the trade war began, billionaire investor Mark Cuban has weighed in on plenty of Trump’s policy decisions. His takes have ranged from criticizing the lack of logic behind them to advising consumers on how to handle the coming price increases.
As TheStreet’s Patricia Battle reports, he recently advised consumers to employ the tactic of panic buying when it comes to household utilities. “Even if it's made in the USA, they will jack up the price and blame it on tariffs,” he stated, naming toothpaste and soap as two examples of products to stock up on.
Related: Mark Cuban sounds alarm on how consumers should handle tariffs
More recently, Cuban examined the rivalry developing between Trump and Tesla CEO Elon Musk, predicting who would win in a battle between two extremely powerful men.
Until recently, Musk enjoyed the privilege of being one of Trump’s closest advisors, but the tariffs seem to have divided them. Musk has advocated for no tariffs, even though his company is less exposed to them than other automakers, as it builds all-electric vehicles (EVs) sold in the U.S. on American soil.
In a Bluesky post on April 6, Cuban laid out his take on the tariff battle between Trump and Musk, stating:
“Free Trade, zero tariffs Elon vs Full Tariff Trump is going to be interesting to watch. The stakes are enormous for the American People. Who comes out on top? I think unfortunately for the economy, in this case, it's Trump.”
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Cuban seems to believe that Trump will ultimately use his power as President to push Musk out, something he’s already discussed doing. He recently implied that Musk will be leaving his post at the so-called Department of Government Efficiency (DOGE) in the next few months.