‘Not a tax on the American people’: Grant Cardone blasts Mark Cuban for opposing Trump's 200% tariff — says he must be vying for a position in Kamala Harris's administration

“I love the company, but as you know, they announced a few days ago that they're going to move a lot of their manufacturing business to Mexico. I'm just notifying John Deere right now. If you do that, we're putting a 200% tariff on everything that you want to sell into the United States,” he declared.

In June, Deere announced plans to relocate the production of skid steer loaders and compact track loaders from its Dubuque, Iowa, facility to Mexico by the end of 2026. The following month, the company announced layoffs.

Trump’s comments have sparked heated debate online, drawing reactions from high-profile figures.

Shark Tank investor Mark Cuban was quick to criticize Trump’s proposed tariff on Deere.

“This Lack of Understanding of Business is insane,” he posted on X. “Put a 200% tariff on the American company moving some production to Mexico. But tariff Chinese manufacturers 10 or 20%, so that the Chinese products will be cheaper to sell in the US than the American company. Good way to destroy a legendary American company and increase costs to American buyers.”

Cuban’s post resonated widely, garnering over 5.1 million views, 36,000 likes, and 6,200 comments. His remarks also caught the attention of real estate mogul Grant Cardone, who responded with an Instagram video titled “Economic Class for Mark Cuban on Tariffs.”

‘Pricing will be fair again’

Cardone didn't hold back in his criticism of Cuban.

“Hey Mark, I used to think that you were trolling X, and now I realize you must be vying for some kind of position in the Kamala Harris administration,” Cardone remarked.

Cardone’s comment may not be entirely off-base. Cuban has publicly endorsed Harris for president and even expressed interest in joining her administration to lead the Securities and Exchange Commission. “I told her team, look, put my name in for the SEC. It needs to change,” he said in a recent interview with CNBC.

Cardone went on to dismantle Cuban’s argument against the tariff, stating, “Your idea that a tariff is inflationary and it should scare the American people — it's ridiculous.”

Using products made in China as an example, Cardone argued, “You put a 200% tax on any toy, for instance, coming out of China, and the American people will simply quit buying that toy, until at which point America will start manufacturing that car, that toy, the car, whatever it is, the parts, America will start manufacturing — because pricing will be fair again.”

He emphasized that supply and demand ultimately determine prices. Cardone believes that once domestic production ramps up, it will spark “tremendous innovation” in the U.S. economy. Despite higher labor costs in the U.S., he’s confident that Americans will still be able to produce goods more cheaply than China. He argued that Americans will find “smarter, faster, better ways to do things once the tariffs are in place.”

Cardone’s conclusion was clear: “This is not a tax on the American people; it’s a tax on China.”

A double-edged sword

Economists generally view tariffs as a double-edged sword. While they can protect domestic industries by making imported goods more expensive, they often come with unintended consequences. Higher tariffs may lead to increased costs for consumers, as companies pass on the added expenses. This can result in inflationary pressures and reduced purchasing power for households.