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BILLIONAIRE CUBAN STUMPS FOR HARRIS AS MUSK HITS TRAIL FOR TRUMP

By Nandita Bose and Jarrett Renshaw
October 18, 20249:49 PM GMT+1Updated a day ago
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 * Summary
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 * "Shark Tank" star says Trump's tariff plan will cost consumers, not China
 * Trump maintains his trade policies will boost U.S. manufacturing and yield
   enough revenue to ease deficit concerns
 * Cuban not the only billionaire campaigning on Thursday, with Tesla founder
   Elon Musk in Pennsylvania

LA CROSSE, Wisconsin, Oct 17 (Reuters) - Billionaire Mark Cuban chided fellow
billionaire and Republican presidential candidate Donald Trump on Thursday for
his proposal to issue fresh tariffs on most Chinese goods, arguing it will be
Americans who will pay the bill, not the Chinese.
Cuban appeared with Democratic presidential candidate Kamala Harris in Wisconsin
on Thursday and is set to hold a town hall for her on Saturday in Phoenix before
heading to Michigan.
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He wasn't the only billionaire on the campaign trail: Tesla (TSLA.O), opens new
tab CEO Elon Musk was in Pennsylvania on Thursday mobilizing Trump voters ahead
of Election Day on Nov. 5.
Trump's plan to impose fresh tariffs on up to 60% of goods from China in a bid
to boost U.S. manufacturing is a "crazy notion" that will punish consumers who
will end up paying the bill, Cuban said.
"This man has so little understanding of tariffs, he thinks that China pays for
that. This is the same guy who also thought that Mexico would pay for the wall,"
Cuban said.
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"Did Mexico pay for that wall?," Cuban asked the crowd, who responded, "no."
Item 1 of 4 Businessman Mark Cuban takes the stage during a campaign event held
by Democratic presidential nominee U.S. Vice President Kamala Harris at the
University of Wisconsin-La Crosse in La Crosse, Wisconsin, U.S. October 17,
2024. REUTERS/Evelyn Hockstein
[1/4]Businessman Mark Cuban takes the stage during a campaign event held by
Democratic presidential nominee U.S. Vice President Kamala Harris at the
University of Wisconsin-La Crosse in La Crosse, Wisconsin, U.S. October 17,
2024. REUTERS/Evelyn Hockstein Purchase Licensing Rights, opens new tab

Trump has maintained that his trade policies - which call for pricey tariffs on
goods not only from rivals such as China but allies such as the European Union -
would revitalize American manufacturing and yield enough revenue to ease
concerns about a ballooning deficit.
"To me, the most beautiful word in the world is 'tariff,'" Trump said on Tuesday
in a sometimes-tense interview at the Economic Club of Chicago.

The Trump campaign did not immediately respond to requests for comment.
Cuban, an entrepreneur and star in the popular "Shark Tank" television series,
brings tech-savvy pop culture appeal and business credibility that is especially
appealing to young men, who have become a key demographic in a race where the
gender gap has widened as males overall have shifted to Trump.
Cuban credited Trump with having a coherent trade and tariff policy when he was
a political outsider in the 1990's and early 2000s, but said his current ideas
are just "gibberish."

"Donald Trump is the Grinch that wants to steal your Christmas," he said. "The
Grinch doesn't understand how tariffs work... The Grinch is the one that's going
to be putting these small businesses out of business."
Unlike Musk, who has donated nearly $75 million to Trump-aligned groups, Cuban
is not a political donor. Federal Election Commission records show a single,
$1,000 donation to Congressman Zoe Lofgren, a California Democrat, in 2002 under
Cuban’s name.

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your day. Sign up here.

Reporting by Jarrett Renshaw; Editing by Lincoln Feast.

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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