Shark Tank’s Mark Cuban sounds the alarm on devastating fact about tariffs | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Ever since President Donald Trump unveiled the fine details of his tariffs plan on April 2, a day the administration refers to as “Liberation Day,” Americans have been worried about how the new levies will change their lives.

While Trump has softened his stance on some of the tariffs, there’s no question American will still pay a hefty price. The changes will cost the average household more than $2,300 a year, according to the Yale Budget Lab.

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This became much more real last week when Walmart — the country’s biggest retailer — made an announcement that despite its intent to maintain its current pricing, it would have to raise some prices, with CEO Doug McMillon saying, “Given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins.”

Trump quickly responded to Million’s announcement via his social media network Truth Social, saying the retailer should “eat the tariffs” and that “I’ll be watching” — a rather bewildering threat to make, as even a company making billions would take a health-threatening hit to its bottom line in the circumstances.

Now Cost Plus Drugs founder Mark Cuban has pointed out a new tidbit about tariffs that many of us are missing, and it’s something that Americans need to understand about the future that’s coming this year and beyond.

Billionaire Mark Cuban is signal-boosting a very important message about tariffs.

Image source&colon; Travis P&period; Ball/Getty Images

Cuban highlights a crucial fact

On May 18, Mark Cuban reshared a post on his BlueSky account from economist Justin Wolfers of a video interview with MSNBC. In his own post featuring the video, Wolfers said, “The Trump tariffs are ‘stackable,’ and so average tariff rates are higher than you’re seeing in most media reports. Lemme ‘splain.”

When asked about the stacking of tariffs during the interview, Wolfers had some important information to share. “All of those numbers you just read are very confusing, so let me deconfuse them,” Wolfers said.

Wolfers goes on to say that back in January of this year, tariffs on China were already in place.

“They were tariffs that the first Trump administration had put on,” he said. “There were tariffs that the Biden administration had continued or put on, and there’s even tariffs from earlier.” Wolfers said the previous tariffs were about 8 percent, but are higher for some things like girls’ dresses and lower for some other items.

Then Wolfers explains what it all really means.

“It means on average that the tariff rate is the Trump 30 percent plus the 8 percent he inherited from history, so 38 percent,” he said. “And all of those are extra costs are being charged to Americans and will either go through to higher price tags in the store or lower profit margins for the store that’s selling it to you. But from past experience, most of it’s going to be higher price tags for Americans.”

Wolfers has openly and repeatedly criticized Trump via his BlueSky posts, recently saying in another post, “An abusive spouse destroys a marriage using the same techniques the President is using to [negotiate] trade agreements.”

Cuban’s open criticism of President Trump

While resharing Wolfers’ post is an obvious sign Cuban agrees with his points, Cuban has also had his own harsh words for both President Trump and his administration. On May 11, Cuban posted some thoughts on his BlueSky account about Trump’s comments during an NBC interview where he was directly asked if he needed to uphold the constitution as president.

“I don’t know,” Trump replied. “I know that I have brilliant lawyers that work for me, and they are obviously going to follow what the Supreme Court said.”

Cuban roasted Trump’s reply in his post, saying, “Could you imagine the response if a democratic president said they didn’t know if they had to uphold the Constitution? How fast would the articles of impeachment be drawn? Twenty minutes at the most.”