Billionaire investor Mark Cuban took another shot at Commerce Secretary Howard Lutnick in his latest post. Over the weekend, Cuban took to Bluesky to mock Lutnick, writing, "I wonder which Time Share company Howard Lutnick is going to get a job in sales at."
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Lutnick’s Controversial Tenure
Cuban’s jab comes on the heels of a series of critical comments he’s made about Lutnick's tenure as commerce secretary. In March, for instance, Cuban questioned Lutnick’s effectiveness, asking, "Has Howard Lutnick done anything of value as Commerce Secretary?" The remark was a response to Lutnick’s recent controversial interviews and public comments.
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One of the key points of contention is Lutnick’s approach to tariffs and trade. In a March CNBC interview, Lutnick defended the Trump administration's tariff strategy, emphasizing its potential to boost U.S. manufacturing. Cuban shot back on Bluesky, saying, "Someone needs to explain to our Sec of Commerce how capitalism works." He added, "America has a global trade surplus on services. Services have the highest margins and profits of our exports. That is where capital and expertise are focused."
Cuban's critiques highlight a fundamental disagreement over the direction of U.S. trade policy. Lutnick has been a vocal supporter of President Donald Trump’s tariffs, arguing that they are necessary to address the $1.2 trillion U.S. trade deficit. He defended this approach in a Sunday CNN interview, describing the deficit as unsustainable and claiming that tariffs will help create balanced trade. "The president wants balanced and fair trade, and tariffs are the tool to create balanced and fair trade," Lutnick said.
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Cuban has consistently resisted this, arguing that the U.S. should concentrate more on its robust services industry, which he claims is more lucrative and a better long-term investment for economic expansion. He also criticized Lutnick’s recent comments about Social Security, where Lutnick suggested that people who complain about missed checks might be fraudsters, sparking significant backlash.
"My mother-in-law, who’s 94, she wouldn’t call and complain. She just wouldn’t," Lutnick said on the "All-In Podcast" in March. "A fraudster always makes the loudest noise, screaming, yelling and complaining."
The latest trade developments also add context to Cuban’s criticism. This week, the U.S. and China agreed to a 90-day tariff reduction pause, with the U.S. lowering tariffs on Chinese goods from 145% to 30% and China cutting duties on U.S. products from 125% to 10%. The deal, which allows for ongoing economic discussions, underscores the ongoing challenges in balancing U.S. trade interests.
Cuban’s pointed comments suggest he remains skeptical of Lutnick's approach, framing it as disconnected from the economic realities faced by most Americans. His critiques echo broader concerns about the potential economic fallout from ongoing trade disputes and the effectiveness of tariffs as a long-term strategy.
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