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President Donald Trump has announced reciprocal tariffs for more than 180 countries.
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Shark Tank star Mark Kuban said people have to “buy many supplies” now before prices rise.
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Kuban said retailers would raise prices and “blame it in rates”, even if their goods are made in the United States.
Mark Kuban has a proposal for the Americans: “Buy many supplies now.”
The Kuban made a Bluski post on Wednesday, shortly after President Donald Trump announced extensive tariffs that would affect more than 180 countries.
“It’s not a bad idea to go to the local Walmart or Big Box dealer and buy many supplies now. From toothpaste to soap, everything you can find a storage space for you to buy before you have to fill in inventory,” Kuban writes.
“Even if it is made in the US, they will increase the price and blame it in the tariffs,” Kuban added.
Kuban declined to comment further when he turned from Business Insider.
On Wednesday, Trump announced reciprocal tariffs for all countries that imposed tariffs on American goods. The tariffs that Trump has said to start at a base speed of 10%will affect 185 countries.
“April 2, 2025, will be remembered forever when the US industry is reborn, on the day when America’s fate was restored and the day we started making America rich again,” Trump said.
Although companies can bear some of the increase in tariff costs, US consumers are likely to see higher prices for items such as cars and groceries.
Last month, Federal Reserve President Jerome Powell told reporters that the “good part” from the growing forecast for Fed’s inflation stems from Trump’s tariff plans.
Experts in the BI supply chain, however, said that although Cubans’ fears raise rates prices, be valid, panic buying can harm supplies chains and lead to an increase in prices.
“Just as I said during Covid, no one should panic with toilet paper and clorox. No one should do it now,” says Margaret Kid, Associate Professor of Delivery and Logistics Technology at the University of Houston.
KID said consumers should be “conservative with our resources” as price increases happen “throughout the board.”
“We don’t know how this will be played,” Kid said.
Chris Tang, a professor at UCLA, who is an expert in the management of the global supply chain, said Cuba’s proposal could lead to “bigger problems”.
“This kind of change in demand would actually exacerbate this price increase. If the demand is more stable, then the price is more stable. If everyone starts to stock up with toothpaste and toilet paper, the prices go higher,” said Tan.