Billionaire businessman Mark Cuban is speaking out against President Donald Trump’s plans to put taxes on things coming from Mexico and Canada. Cuban hopes that both countries will respond by putting their own taxes on American goods. He thinks this would show how bad Trump’s trade ideas could be.
Cuban is worried about Trump’s tax plans because he believes they will make things more expensive for people and businesses in America. He points out that even small companies will struggle with the extra costs and difficult paperwork that come with these taxes. He has said that too many taxes can raise prices for everyone and make other countries retaliate, which can lead to a trade war.
Cuban also criticized Trump for suggesting a huge 200% tax on John Deere if the company decides to move production to Mexico. He called this idea crazy, saying it could hurt this famous American company and make prices higher for buyers in the U.S. Cuban warned that such high taxes could actually make it cheaper for buyers to choose products from China instead of John Deere, which could hurt the U.S. economy overall. His comments are part of a bigger conversation that business leaders and economists are having about whether tariffs really help or hurt the economy.
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