Billionaire mogul and Dallas Mavericks owner Mark Cuban slammed President Trump’s recent comments about Mexico on Twitter Friday, Business Insider reports, warning that the President is “cutting off our economic nose to spite our face.”
The comments were apparently in response to Trump’s idea to add a 20% tax to Mexican imports to pay for his proposed border wall. Mexico is America’s third-largest trading partner, after Canada and China, and the two countries have exchanged $531 billion in goods. (Already, Chipotle and Corona stocks have each taken a hit since the plan was announced.) Officials warned that such a move could trigger a global recession.
https://twitter.com/mcuban/status/824981420460355585
https://twitter.com/mcuban/status/824985720825708544
https://twitter.com/mcuban/status/824988438072016897
Some Republican lawmakers have also tweeted their opposition to the proposal Friday.
Border security yes, tariffs no. Mexico is 3rd largest trading partner. Any tariff we can levy they can levy. Huge barrier to econ growth /1
— Lindsey Graham (@LindseyGrahamSC) January 26, 2017
Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad. (2)
— Lindsey Graham (@LindseyGrahamSC) January 26, 2017
Cuban was critical of Trump and his proposed policies for much of the 2016 presidential campaign. But when Trump won, he said he would stop bashing him and reserve his judgment because he is “America’s No.1 draft pick.”