Billionaire and “Shark Tank” star Mark Cuban is known not only for his business acumen but also his proclivity to wade into political discussions. In a recent post made to X, Cuban posed a question to his audience, with a poll attached.
“Who is better for the USA economy, Free Trade @elonmusk or Tariff Trump,” Cuban wrote on April 6.
Days later, the poll results were quite decisive after racking up nearly 50,000 votes. Nearly three-quarters of respondents (72.2%) favored Elon Musk’s approach, while the remainder (27.8%) voted for President Donald Trump.
But what exactly are the proposed benefits of these somewhat-opposed economic stances and the attendant drawbacks?
‘Tariff Trump’ Seeks To Correct Standing Trade Imbalances Concerning the US Economy
Trump has espoused the belief that the United States has been on the losing end of many trade agreements, most recently — according to Politico — taking on the European Union (EU), suggesting that by buying $350 billion of American energy, the EU can seek reprieve from U.S. tariffs.
“We have a deficit with the European Union of $350 billion, and it’s gonna disappear fast,” Trump said.
“One of the ways that that can disappear easily and quickly is they’re gonna have to buy our energy from us … they can buy it, we can knock off $350 billion in one week. They have to buy and commit to buy a like amount of energy,” he added.
The president kept his cards close to his vest when asked whether his tariff policy was meant as a negotiation tool or rather a permanent fixture.
“There can be permanent tariffs, and there can also be negotiations because there are things we need beyond tariffs. If we can make a really fair deal and a good deal for the United States, not a good deal for others, this is America first. It’s now America first,” Trump said.
Tariffs as Leverage: Industry Impact and Investor Reaction
As a negotiation tool, tariffs could represent a net positive for the United States. Further, tariff action has spurred Nissan to consider moving some of its Japanese production stateside, as Reuters reported.
The White House has also stated:
“A 2024 study on the effects of President Trump’s tariffs in his first term found that they ‘strengthened the U.S. economy’ and ‘led to significant reshoring’ in industries like manufacturing and steel production.”
However, the economic ripple effects of tariff threats have not gone unnoticed. The market reacted sharply.
“At a high level, investors are nervous that a prolonged trade war poses significant risks for corporate profits and the U.S. economy,” according to investment analysts, CNBC reported.
A two-day selloff spanning April 3–4 cost the S&P 500 a significant 11% in value.
Elon Musk’s Free Trade Vision: A U.S.-EU Economic Alliance
Although Tesla CEO and Department of Government Efficiency (DOGE) head Elon Musk has been an integral part of the Trump team, his stance on tariffs, at least certain ones, runs opposite to the president’s.
Most recently, trading barbs with Trump administration trade advisor Peter Navarro over the tariff issue, Musk previously stated that he would prefer a “zero-tariff situation” and a “free-trade zone” between the United States and the European Union, per NBC News.
“That’s what I hope occurs, and also more freedom of people to move between Europe and North America if they wish, if they wish to work in Europe or wish to work in America, they should be allowed to do so, in my view. So that has certainly been my advice to the president,” Musk said.
The Automotive Angle: Tariffs and Tesla’s Bottom Line
Musk’s position makes sense, at least from Tesla’s perspective, as tariffs directly impact the automaker’s supply chain, as it does many other manufacturers in the industry. A reduction in tariffs would ultimately mean lower prices for consumers looking to buy a new vehicle, no matter the make.
On the other hand, the dropping of all tariffs could mean that manufacturers move their facilities offshore, resulting in the loss of American livelihoods.
Conclusion
Mark Cuban’s poll drew a sharp contrast between two very different visions of the U.S. economy — one rooted in protectionism and the other in open markets. While the Twitter poll favored Elon Musk’s approach by a wide margin, the long-term effects of either policy continue to be a subject of vigorous debate.
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