Businessman and billionaire Mark Cuban has criticized President Donald Trump’s trade plan, warning that aggressive tariffs and cuts to the federal workforce could lead to long-term economic harm. In a series of posts on Bluesky, Cuban expanded on his previous critiques, suggesting that the combination of policies may result in a worse financial crisis than the 2008 Great Recession.
Cuban pointed to the potential impact of sustained tariffs, which could be inflationary, and the ongoing cuts to federal agencies, including those targeting consumer protection and tax enforcement. He warned that if these policies continue, the country could face a far worse situation than in 2008, when GDP declined by over 4%, unemployment reached 10%, and the housing market crashed.
The president has acknowledged potential short-term pain from his trade policy, but Cuban argues that the risks are too great to ignore. Economists and experts have also expressed concerns about the lasting impacts of tariffs, which could lead to higher prices for essential goods and services.
Cuban’s warnings come as the stock market continues to experience significant fluctuations in response to Trump’s tariff plan. The president has defended his policies, saying that “only the weak will fail.” However, many financial commentators have questioned the tariffs’ potential consequences, with JPMorgan’s chief global economist warning of a higher risk of recession.
Source: https://www.businessinsider.com/mark-cuban-donald-trump-tariffs-doge-worse-than-great-recession-2025-4