Mavericks minority owner Mark Cuban schools Shark Tank co-star on raising tariffs to China: "Dead wrong"
Dallas Mavericks minority owner Mark Cuban, who stars on the hit investment show "Shark Tank," fired back at fellow Shark Kevin O'Leary for his comments regarding tariffs on Friday. During an appearance on CNN, which he then reposted on X, formerly known as Twitter, O'Leary spoke about knockoff products undercutting him.
In a follow-up post accompanied by the video, O'Leary wrote that Chinese companies are making the same product as him, using the same molds, and then selling them under different brands for less. His solution was to increase tariffs to 400%; however, Mark Cuban sees things differently.
In a lengthy post on X, Cuban fired back, explaining why O'Leary was "dead wrong" about tariffs.
"Tariffs will cause the Chinese to KNOCK YOU OFF MORE !!! They know your companies are having to pay the tariffs on the legit products. Which makes it easier for their knockoffs to be sold for far far far less on Amazon and anywhere else."
"Let's do the math. Right now the knockoffs sell for at least 25% less than branded versions. Guess what Kevin, a 60 percent tariff on a lower priced knockoff is less than the American company pays on their higher priced, branded product. So a tariff makes it HARDER TO COMEPTE WITH KNOCKOFFS."
Mark Cuban weighs in on the state of the NBA heading into the 2024-25 season
While Mark Cuban may no longer be the majority owner of the Dallas Mavericks, his reputation throughout his stint as majority owner has made him one of the faces of the Mavericks franchise.
Given that, ahead of the 2024-25 season, many members of the NBA community have been eager to get the business mogul's thoughts on the landscape of the NBA heading into the 2024-25 season amid talk of a potential expansion.
During an appearance on ESPN's First Take on Tuesday, Cuban spoke about the landscape of the league.
“I think competitively, it’s the best it’s ever been. I remember being in meetings and having small-market teams just come and beg for revenue sharing and this and that. Now, everybody’s competitive.
"There’s going to be teams that tank for Cooper Flagg, so that might not work as well as the NBA wants. But still, there are a lot of really good teams.”
Parity around the league is at an all-time high, with plenty of competition across both the Eastern and Western Conferences. Given that, and the fact that the league's media rights deal has been finalized, there's been plenty of talk about an expansion between now and the 2027-28 season.
When asked by Shaquille O'Neal earlier this week whether he would be interested in teaming up to invest in another team, Mark Cuban said he would be open to the idea.