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But its not necessarily wealthy investors who will be hit the hardest by tariffs.
Instead, low-income Americans will be hurt the most by tariffs, according to entrepreneur Mark Cuban.
Here are more details about what Cuban has said regardingwho will be hurt most by tariffs.
However, as Lutnik said, thats not the administrations goal.
However, some are skeptical that this will be the result of tariffs.
The Trump administrations tariffs operate as both a consumption tax and a strategy for reshoring.
That means that tariffs could create winners and losers among taxpayers.
), according to Cuban, they wont benefit from tariffs being used to lower income tax rates.
In a recentinterviewwith Tara Palmeri, Cuban noted that strategic tariffs can be beneficial.
However, its the broad-based tariffs that can be damaging.
The company aims to provide affordable prescription drugs by charging only a 15% markup.
Thus, consumers would have to pay the tariffs in the form of higher prices.
He advised consumers to stock up on consumables now in the event of higher prices due to tariffs.
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