Cuban implies Trump's tariff threat having negative impact 'right now'

Source: The Hill

“Right now every company that imports from China is taking all the cash they can muster, and buying up as much as they can and stuffing it in a warehouse, in anticipation of the tariffs creating accelerated demand for imports,” Cuban wrote on the social platform Threads on Friday. “That money would have been used for expansion, raises, bonuses and other operational elements,” he added.

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Trump has also floated a 60 percent tariff on all goods from China. Chinese authorities had told The Hill they don’t want a trade war and stressed the importance of the stability of global production and supply chains.

In his posts on Threads, Cuban warned that “on the flip side, companies that export are expecting retaliatory tariffs. So they are calling their Chinese buyers and begging them to do what American companies are doing, buying up all the can.” Trade and manufacturing experts have said Trump’s tariff threats are already having an effect on global supply chains.

Cuban suggested that this leads to “more sales,” though now they’ll have to “accelerate buying up all the components in the bill of materials,” which could lead to price spikes.
“This is all happening right now,” Cuban cautioned.

Read more: https://thehill.com/business/4982216-cuban-implies-trumps-tariff-threat-already-having-effect/