Billionaire Entrepreneur Mark Cuban recently expressed his thoughts on tariffs, artificial intelligence (AI), robotics, and the potential for a recession in a recent interview.
What Happened: In a discussion with Iman Hasan of Biohack-it on Friday, Cuban stated that he is not against tariffs, but emphasized their strategic application. He argued that protecting certain sectors like farming or steel is acceptable, but cautioned against blanket tariffs due to their inflationary impact. He also stressed that manufacturing industries won’t bounce back instantly, as it’s a process that takes years.
The Shark Tank celebrity suggested that the U.S. should have first established industries domestically, leveraging AI and robotics to compete on a global scale, and then used tariffs as a negotiation tool. He warned that the current situation is akin to a game of chicken with China, a country that lends the U.S. trillions, but also relies on it as a major market. Overplaying the hand or resource restriction from China could lead to detrimental effects.
“And so it’s a game of chicken and you know I don’t know what China’s going to,” stated Cuban as he cited how China is imposing restrictions on natural resources and rare earths to keep the U.S. from manufacturing things.
Cuban further explained that having a trade deficit with China isn’t such a bad thing for the U.S. and it means we are a large consumer market. On the other hand, U.S. has a trade surplus with China in services and if the latter puts tariffs on those services, stops lending money to the U.S or stop buying the U.S. agricultural produce, it could lead to a great problem.
Cuban further stated, “Donald Trump has been dogmatic about trade for 30 plus years” adding that “you can’t be dogmatic in business or government.”
When asked about the possibility of a recession similar to 2008, Mark Cuban considered it plausible but not guaranteed. He pointed out that tariffs, DOGE cuts, and isolationism could lead to stagflation if federal spending significantly reduces GDP. However, he noted that unlike the financial errors of 2008, this situation is driven by policy, which can be quickly altered if perspectives change.
Why It Matters: Mark Cuban’s views on tariffs are not new. Earlier this month, he predicted that tariffs would make things ‘ugly for Amazon, but incredible for American sellers’, highlighting the potential impact on e-commerce giant Amazon AMZN.
A week later, Mark criticized tariff supporters who don’t buy American, calling them hypocrites. He argued that if people were advocating for tariffs to bring manufacturing and jobs back to the U.S., they should be exclusively buying American-made products.
These past statements provide context to Mark’s recent comments, demonstrating his consistent stance on the strategic application of tariffs and the importance of domestic industry development.
That being said, during the interview, the billionaire expressed support for some of Trump’s policies like the handling of border issues, the Make America Healthy Again (MAHA) initiative and the sale of the Gold visa cards. Last week, he also hailed Trump’s executive order on drug pricing and said it could save billions.
- READ MORE: Elon Musk Says Neuralink Will Help Blind People See Again: ‘Will Exceed The Best Human Eyes’
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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