Mark Cuban Says He Knows What Trump Wants To Achieve With Tariffs But The Ex-President Has No Idea What It Takes To Do It — 'That's How Crazy His Approach Is'

“Shark Tank” fame billionaire, Mark Cuban, recently took to X to express his skepticism about former President Donald Trump’s approach to revitalizing U.S. manufacturing through tariffs.

What Happened: In a post, on Tuesday, Cuban, who is backing Vice President Kamala Harris for president in 2024, responded to a post arguing for more U.S. manufacturing. He criticized Trump’s approach, stating, “I know what he wants. But he has no idea what it takes to do it.” He questioned why Trump doesn’t simply pass a law requiring all manufacturing to be done in the U.S. within a decade, arguing that Trump’s imposition of tariffs is effectively trying to achieve the same goal.

Cuban pointed out that the difference between using laws and tariffs is that as the president, Trump can set tariffs, whereas laws have to be passed, something Cuban believes would never happen. “That’s how crazy his approach is,” Cuban concluded.

In a separate interaction on X with the same user, Cuban questioned Trump’s tariff plans, pointing out that it would take years for companies like Deere & Company (NYSE:DE) to relocate or expand U.S. factories. He suggested firms might delay or outsource production instead, ultimately benefiting no one.

See Also: Trump’s Former Trade Advisor Warns Wall Street: Prepare For Swift Tariff Implementation If Ex-President Wins Second Term

Why It Matters: Cuban’s critique comes in the wake of Trump’s recent comments on tariffs. In an interview at the Economic Club of Chicago, Trump defended the ‘massive effect’ of tariffs. This followed Trump’s commitment to bring back the auto industry to Michigan through the taxation of foreign nations, a move Cuban had previously questioned.

Trump’s tariff threats have been a point of contention for Cuban, who has previously criticized Trump’s threat to impose a 200% tariff on John Deere products, calling it a “good way to destroy a legendary American company.”

Photo by Kathy Hutchins on Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal