MARK Cuban has issued a stark warning to consumers as his time with Shark Tank comes to an end.
The billionaire businessman and investor was part of the hit ABC show for over 15 seasons.
He recently appeared for the last time during the Season 16 finale on May 16, per USA Today.
Cuban has been outspoken about the potential impact of President Donald Trump’s global reciprocal tariffs announced in April.
Only a day after the “Liberation Day” announcement was made by Trump, Cuban took to the social media platform Bluesky.
He urged Americans to head to Walmart or other retailers to stock up on essential items before subsequent price and inflation increases.
“It’s not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now,” the 66-year-old warned.
“From toothpaste to soap, anything you can find storage space for, buy, they have to replenish inventory.”
“Even if it’s made in the USA, they will jack up the price and blame it on tariffs,” Cuban claimed.
Not long after the tariffs announcement, a tense trade war began between China and the United States.
At one point, Trump had tariffs of up to 145% on Chinese goods, and a 90-day pause was implemented on the tariffs for the remaining countries, aside from Canada and Mexico.
The 90-day pause is still in effect, and Trump and China’s President Xi Jinping recently agreed on a 30% tariff for the time being in May.
STILL COMING
Still, retailers nationwide have been scrambling to adjust for what many economists and experts like Cuban say will undoubtedly be increased prices on goods and services for consumers due to tariffs at any percentage.
Cuban posted again on Bluesky this month to argue that many importers are keeping goods at Chinese ports, and could rush to ship them all at once.
This would result in more expensive transport costs.
“More inflation, post tariffs,” the billionaire remarked.
President Trump's Reciprocal Tariffs
Reciprocal tariffs per country, which includes the 10% baseline fee:
China: charges the US 67% tariffs, the US will counter with 34% reciprocal tariffs. European Union: charges the US 39% tariffs, the US will counter with 20% reciprocal tariffs. Vietnam: charges the US 90% tariffs, the US will counter with 46% reciprocal tariffs. Taiwan: charges the US 64% tariffs, the US will counter with 32% reciprocal tariffs. Japan: charges the US 46% tariffs, the US will counter with 24% reciprocal tariffs. India: charges the US 52% tariffs, the US will counter with 26% reciprocal tariffs. South Korea: charges the US 50% tariffs, the US will counter with 25% reciprocal tariffs. Thailand: charges the US 72% tariffs, the US will counter with 36% reciprocal tariffs. Switzerland: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs. Indonesia: charges the US 61% tariffs, the US will counter with 32% reciprocal tariffs. Malaysia: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs. Cambodia: charges the US 97% tariffs, the US will counter with 49% reciprocal tariffs. United Kingdom: charges the US 10% tariffs, the US will respond with a 10% baseline fee. South Africa: charges the US 60% tariffs, the US will counter with 30% reciprocal tariffs. Brazil: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bangladesh: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Singapore: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Israel: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs. Philippines: charges the US 34% tariffs, the US will counter with 17% reciprocal tariffs. Chile: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Australia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Pakistan: charges the US 58% tariffs, the US will counter with 29% reciprocal tariffs. Turkey: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Sri Lanka: charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs. Colombia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Peru: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Nicaragua: charges the US 36% tariffs, the US will counter with 18% reciprocal tariffs. Norway: charges the US 30% tariffs, the US will counter with 15% reciprocal tariffs. Costa Rica: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs. Jordan: charges the US 40% tariffs, the US will counter with 20% reciprocal tariffs. Dominican Republic: charges the US 10% tariffs, the US will respond with a 10% baseline fee. United Arab Emirates: charges the US 10% tariffs, the US will respond with a 10% baseline fee. New Zealand: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Argentina: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Ecuador: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs. Guatemala: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Honduras: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Madagascar (Burma): charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs. Tunisia: charges the US 55% tariffs, the US will counter with 28% reciprocal tariffs. Kazakhstan: charges the US 54% tariffs, the US will counter with 27% reciprocal tariffs. Serbia: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Egypt: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Saudi Arabia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. El Salvador: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Côte d’Ivoire: charges the US 41% tariffs, the US will counter with 21% reciprocal tariffs. Laos: charges the US 95% tariffs, the US will counter with 48% reciprocal tariffs. Botswana: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs. Trinidad and Tobago: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs. Morocco: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Moldova: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs. Angola: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs. Democratic Republic of the Congo: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs. Jamaica: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Mozambique: charges the US 31% tariffs, the US will counter with 16% reciprocal tariffs. Paraguay: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Zambia: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs. Lebanon: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Tanzania: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Iraq: charges the US 78% tariffs, the US will counter with 39% reciprocal tariffs. Georgia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Senegal: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Azerbaijan:charges the US 10% tariffs, the US will respond with a 10% baseline fee. Cameroon: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs. Uganda: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Albania: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Armenia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Nepal: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Sint Maarten: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Falkland Islands: charges the US 82% tariffs, the US will counter 41% with reciprocal tariffs. Gabon: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Kuwait: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Togo: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Suriname: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Belize: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Algeria: charges the US 59% tariffs, the US will counter with 30% reciprocal tariffs. Oman: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Uruguay: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bahamas: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Lesotho: charges the US 99% tariffs, the US will counter with 55% reciprocal tariffs. Ukraine: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bahrain: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Qatar: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Mauritius: charges the US 80% tariffs, the US will counter with 40% reciprocal tariffs. Fiji: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs. Iceland: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Kenya: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Liechtenstein: charges the US 73% tariffs, the US will counter with 37% reciprocal tariffs. Guyana: charges the US 76% tariffs, the US will counter with 38% reciprocal tariffs. Haiti: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Bosnia and Herzegovina: charges the US 70% tariffs, the US will counter with 35% reciprocal tariffs. Nigeria: charges the US 27% tariffs, the US will counter with 14% reciprocal tariffs. Namibia: charges the US 42% tariffs, the US will counter with 21% reciprocal tariffs. Brunei: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs. Bolivia: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs. Panama: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Venezuela: charges the US 29% tariffs, the US will counter with 15% reciprocal tariffs. North Macedonia: charges the US 65% tariffs, the US will counter 33% with reciprocal tariffs. Ethiopia: charges the US 10% tariffs, the US will respond with a 10% baseline fee. Ghana: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs.The full list was shared on by the White House’s rapid response team on X.
He also noted that there would still likely be empty shelves or at least higher prices, even with the drop from 145% with China.
Some companies have recently released statements estimating the exact amounts tariffs could cost them, such as $680 million for Sony, per The Economic Times.
While there are at least five essentials that consumers have been urged to stock up on amid the uncertainty, there is one popular product that some economists say will almost definitely increase in price in 2025.
CAFFIENE CONCERN
That would be coffee, as the United States barely produces any of its own.
While Hawaii is virtually the only domestic source of coffee and cocoa beans, the US remains the “single largest importer of coffee in the world,” according to what Kona Haque, research head at commodity trader ED&F Man, told The Financial Times recently.
Haque added that it is the “ultimate nation of coffee drinkers,” meaning tariffs on Ecuador and the Ivory Coast would be impactful.
The Ivory Coast is the world’s biggest cocoa producer and has levies set at 21% after the 90-day pause.
“The USA simply cannot produce these products,” she explained.
This was further emphasized by Lucrezia Colgliati, commodities analyst for Fitch Solutions.
“We believe that the recent announcement of US reciprocal tariffs will raise domestic coffee prices as the United States relies almost entirely on coffee imports to meet domestic demand, producing around 0.2 percent of the coffee it consumes,” Colgliati said.
“As production of coffee in the US is essentially non-existent, we believe that increased tariffs will not boost domestic production but rather translate into higher consumer prices, which would ultimately weigh on demand.”
Some executives have argued in defense of tariffs, with former Home Depot CEO Bob Nardelli saying that the uncertainty is an “overreaction.”
Online fast fashion brands like Shein and Temu have already issued statements to customers that prices will increase soon.
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