'Unbelievable People Still Don't Understand Tariffs' – Mark Cuban Highlights Entrepreneur's $30 Million Loss Under Trump's 145% Tariff - Tesla (NASDAQ:TSLA), Boeing (NYSE:BA)

A $30 million wipeout in just 60 days—no miscalculation, just tariffs. That's the reality a U.S. entrepreneur recently revealed following President Donald Trump's imposition of a 145% tariff on Chinese goods.

On April 17, Mark Cuban shared a post on X. In it, he amplified concerns voiced by an unnamed entrepreneur about the growing damage many businesses say they're now grappling with under Trump's newly unveiled trade plans. The tariffs, which would impact imports from 185 countries, start at 10%, with China facing the steepest rate.

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In his post, Cuban quoted the entrepreneur, who said, "$30M in EBITDA wiped out for us in 2 months, a company I spent a decade building decimated in a matter of months. Unbelievable people still don't understand tariffs at this point, and the head in the sand approach to what this is going to do to our economy is frightening. We are in cash preservation mode and have paused all shipments from China at this point."

Trump's trade measures aim to protect American manufacturing by making foreign imports more expensive. But some industries are already responding by freezing operations, cutting costs, and pausing international shipments.

According to Reuters on April 15, Tesla TSLA halted imports of components from China critical to the assembly of its Cybercab and Semi models. Boeing BA redirected a 737 MAX jetliner meant for a Chinese airliner back to the U.S., citing prohibitive cost implications triggered by the tariff hike, according to media reports.

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Retailers are also feeling the strain. On April 19, Marc Bowker, owner of Alter Ego Comics in Lima, Ohio, told Business Insider his supplier costs rose as much as 34%. The increase has forced him to raise prices on imported goods and tighten profit margins to stay afloat. "If you see prices go up at your local small business, it’s not because we want to,” he said . "It’s because we’re forced to."

Across the board, many small business owners are putting plans on hold according to data from the U.S. Chamber of Commerce. 12% of small business owners believe it’s a good time to expand, reflecting a five-point decline from January. Moreover, 19% are planning capital purchases in the next three months, down one point from January.

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Cuban encouraged consumers to stock up on essential household goods like soap, toothpaste, and medications, warning that tariffs would eventually drive up shelf prices nationwide.

Meanwhile, industry-wide concern is growing. A survey conducted by Fictiv revealed that 77% of manufacturing and supply chain leaders expressed concerns about their ability to manage resources effectively amid trade wars and tariffs.

In addition, the U.S.-China Business Council has estimated that some 862,467 American jobs—particularly in agriculture and trade-heavy sectors—could be at risk.

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