Billionaire Mark Cuban on Monday night slammed former President Donald Trump, the Republican presidential nominee, for recent threats he made about John Deere and tariffs.
Earlier in the day, President Trump warned John Deere that he would impose heavy tariffs on its products if it outsourced any part of its manufacturing to Mexico.
“I noticed a John Deere tractor behind me. I know John Deere very well. I love John Deere,” Trump said at an event with farmers in Pennsylvania.
“But, you know, they announced a few days ago that they're moving a lot of their manufacturing operations to Mexico,” he continued. “I'm in the process of notifying John Deere right now that if they do, I'm going to put a 200% tariff on all of the products that they want to sell into the U.S., so if I win, John Deere is going to pay 200%. We haven't started that yet. It may not even be finalized. But I think it is.”
The Cuban called. The threat of “madness” In a post on social platform X.
“This lack of understanding of business is insanity,” Cuban said in the post. “Imposing 200% tariffs on American companies that move some of their production to Mexico is insane.[.] But if you put a 10% or 20% tariff on Chinese manufacturers, Chinese products will sell for less in the U.S. than American companies.”
“It's a great way to destroy a legendary American company and increase costs for American buyers,” Cuban continued.
Cuban has praised Harris in recent months, describing the Democratic presidential nominee as “pro-business.” This month, he and about 100 other top business leaders endorsed her.
Earlier this year, Fox Business Network John Deere is The company is laying off about 600 employees at its Midwest factories, reportedly as part of a broader restructuring of its operations that includes plans to move some manufacturing to Mexico by the end of 2026.
During a recent debate with Harris, President Trump reiterated his pledge to raise tariffs on imports as they discussed economic policy.
“We put tariffs on other countries,” Trump said. “I've taken billions of dollars from China.”
The Hill has reached out to the Trump campaign.
