Mark Cuban accused Donald Trump of wanting Americans to have a “lousy” holiday season as he criticized the GOP nominee’s “gibberish” tariff proposals at a Kamala Harris campaign rally on Thursday.
According to a crowd in La Crosse, Wisconsin, the billionaire “Shark Tank” investor compared Donald Trump to the Grinch who wants to steal Christmas.
Trump has previously promised to increase tariffs on products made in foreign countries and imported into the United States, including China. However, many economists caution that such proposals would lead to higher prices for consumers.
In a surprising move, the former president took aim at experts on Tuesday, criticizing them for their inaccurate predictions regarding tariffs. He staunchly defended his own economic policy, emphasizing the need for a more nuanced understanding of the situation.
Mark Cuban, who had previously voiced his disapproval of Trump’s approach to tariffs by stating that it puts companies “underneath a hammer,” is now criticizing Trump’s proposal to impose a 60% tariff on Chinese goods. Cuban called this idea a “crazy notion” that is not beneficial.
According to Cuban, Trump’s understanding of tariffs is severely lacking. He mistakenly believes that China is the one paying for them. Cuban also made a reference to Trump’s previous campaign promise, where he wrongly claimed that Mexico would pay for the wall.
The former president was given some credit for being somewhat coherent when discussing trade policy in the ’90s and early 2000s.
Later in his speech, Cuban expressed his concern about the potential impact of Trump’s proposed tariffs. He emphasized that it would be “heartbreaking” if people were unable to buy gifts for their loved ones due to these tariffs. Cuban also mentioned that consumers might experience an increase in the cost of products at small businesses.
According to the billionaire, Christmas is not only going to be a disappointing time for individuals, but it will also have a negative impact on retailers. He believes that the Grinch, metaphorically representing the challenging economic conditions, will be the cause of many companies going out of business.
“Every small business is fueled by the determination and hard work of an entrepreneur who has poured their heart and soul into making it a success. These individuals have made sacrifices and dedicated their lives to building a better future for their loved ones,” he passionately expressed. “If we allow ‘The Trump That Stole Christmas’ to take office, these dreams will be shattered, just like the Grinch’s heart.”