Dark days lie ahead for U.S. consumers—that's the warning from billionaire investor Mark Cuban, who says American consumers are about to feel the real sting of the latest trade dispute.
In a sharply worded Bluesky post on April 6, Cuban framed the escalating trade fight as a showdown between Elon Musk's free-trade ideals and President Donald Trump's full-tariff playbook. His take? Trump wins—and the U.S. economy loses.
"The stakes are enormous," Cuban warned, saying that Trump's aggressive tariff push may be a politically savvy move, but it's one that will drive up prices across the board. He warns the worst of the price hikes is still ahead.
Don't Miss:
- Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late.
- How do billionaires pay less in income tax than you? Tax deferring is their number one strategy.
Tariffs Shelves And Sticker Shock
Cuban doubled down on that message in an April 9 Bluesky thread, saying many U.S. companies had rushed to stockpile goods in anticipation of Trump's tariffs—but those reserves are quickly drying up.
Once that cushion disappears, consumers will likely face a one-two punch of rising prices and job cuts as businesses scramble to cope with the new cost pressures.
Trump's tariff push started April 2 when the White House rolled out a 10% “reciprocal” duty on imports from 185 countries. That quickly escalated: within a week, tariffs on Chinese goods jumped to 125%, making the total levy on imports from China 145%.
Beijing didn't waste time responding. Two days later, China raised its own duties on U.S. imports by 125%.
Trending: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.
That trade barrage has since partially cooled. In mid May, the U.S. and China agreed to temporarily reduce tariffs for 90 days, dialing back U.S. import duties on Chinese goods from 145% to 30%, while China eased its tariffs to 10%, according to Reuters.
However, the agreement only covers a 90-day window, and businesses remain wary of what happens next. Retailers and importers say the limited relief hasn't done enough to reverse rising costs already baked into supply chains.
The tit-for-tat trade drama sent importers scrambling. By May, bookings for containers shipping from China to the U.S. jumped 277% as companies rushed to beat the clock before even more duties hit, according to Reuters.
Meanwhile, the cost to move goods surged. Spot freight rates from Shanghai to New York soared 19% to $4,350 per 40-foot container, while the Shanghai–Los Angeles route saw a 16% hike, shipping consultancy Drewry reported.
See Also: Invest where it hurts — and help millions heal: Invest in Cytonics and help disrupt a $390B Big Pharma stronghold.
That pressure is already hitting consumers. According to the Bureau of Labor Statistics, the consumer price index rose 0.2% in April and was 2.3% higher than a year earlier. Shelter and energy costs drove much of the increase, while food prices declined slightly.
Sensing what's ahead, Cuban urged Americans to take matters into their own hands—starting with their shopping carts. In an April 2 post on Bluesky, Cuban advised his 1.4 million followers to stock up on essentials like toothpaste and soap before prices spike even further.
Cuban warned even goods made in the U.S. won't be immune from the inflationary wave as retailers pass on higher costs and blame tariffs for the surge. "Anything you can find storage space for," he wrote, should be bought now.
Read Next:
- Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?
- Are you rich? Here’s what Americans think you need to be considered wealthy.
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
