“Shark Tank” investor and entrepreneur Mark Cuban took to X, formerly Twitter, on Tuesday to express his confusion over former President Donald Trump‘s recent comments about the U.S. auto industry.
What Happened: Cuban dissected Trump’s claims and sought clarification on several points related to the auto industry and international trade agreements.
Cuban highlighted the discrepancy in Trump’s speech regarding the percentage of cars Mexico exports to the U.S. and the actual figures. He pointed out that the numbers mentioned by Trump did not align with the known data. Cuban also referenced a recent article suggesting that Chinese auto component plants in Mexico won’t be operational for some years, questioning the immediacy of Trump’s ‘bloodbath’ scenario.
“Which if true, means there ain't gonna be a bloodbath of any kind from 2024 to 2028,” he added.
Moreover, Cuban mentioned the Joe Biden administration’s consideration of tariffs on EVs made in China, which could potentially benefit American car manufacturers, including Tesla Inc. (NASDAQ:TSLA).
“That's good for @Tesla, right? Did I miss anything? As always, Feel free to correct any mistakes,” he concluded.
Why It Matters: Trump’s alarming speech in Ohio, where he warned of a “bloodbath” for the auto industry if not re-elected, has sparked significant controversy. Trump’s remarks included a call for a 100 percent tariff on cars manufactured outside the country to protect the U.S. auto industry.
Trump’s comments received support from figures like Rep. Marjorie Taylor Greene (R-Ga.) and Sen. JD Vance (R-Ohio), while Tesla CEO Elon Musk attempted to contextualize them. In contrast, President Joe Biden responded to Trump’s rhetoric by warning against the divisiveness and hinting at the potential for unrest reminiscent of Jan. 6.
Photo by Joe Seer on Shutterstock
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