Billionaire entrepreneur Mark Cuban is calling out President Donald Trump for brushing off concerns from small business owners over the impact of his sweeping tariff policies.
On May 4, Cuban posted a video on X of Trump defending his tariffs and dismissing concerns from small businesses, which Cuban said shows a clear disregard for the millions of small enterprises affected by the policy.
“They’re not going to need it”
In the video, taken from an interview at Mar-a-Lago, Trump was asked whether his administration was considering tariff relief for small businesses.
His response sparked backlash: “Why do you always mention that, you know, you pick up a couple of little businesses? What about the car business? They’re going to make a fortune because of the tariffs.”
When pressed again about whether small businesses would receive any help, Trump dismissed the concern outright.
“They’re not going to need it,” he said. “They’re going to make so much money.”
Cuban responded with a pointed question: “Should small businesses be ignored? Or are big industries all that matter?”
Backlash from Small Business Owners
Trump’s comments came just days after his administration eliminated the de minimis exemption, a policy that previously allowed goods under $800 to enter the U.S. duty-free.
The baseline tariff on Chinese imports is now 145%, hitting low-cost items like toys, fast fashion, and tools that many small businesses rely on.
Small business owners and advocates have warned that these changes could result in higher prices, layoffs, and even closures.
The U.S. Chamber of Commerce sent a letter to the Trump administration urging immediate relief, stating, “Take immediate action to save America’s small business and stave off a recession,” according to a segment aired by KTVU FOX 2 News.
The letter called for automatic exclusions from new tariffs for small businesses and for goods not produced domestically, like bananas, coffee, and cocoa.
Mixed Reactions Across the Country
The response to Trump’s stance has been polarizing. Some small business owners say they support tariffs as a way to compete with cheap imports, especially from e-commerce giants like Temu and Shein.
“We make our product in America. I’m very happy with Trump’s tariffs,” one business owner posted.
Others say the costs are simply too high. “Small businesses are the backbone of our economy, and Trump just told them to go pound sand,” one commenter wrote.
“No tariff relief. No plan. If you’re not a billion-dollar company? Too bad.”
Economists have also raised red flags. The U.S. economy shrank in the first quarter of 2025, and critics say tariffs are making it worse by raising prices and hurting consumer spending.
Trump, however, has dismissed recession concerns. “I said, this is a transition period. I think we’re going to do fantastically,” he said in a NBC News interview.
He also claimed, without evidence, that some states are seeing gas prices under $2 per gallon.
What’s Next?
Amid growing pressure, China has signaled a willingness to return to the negotiating table if the U.S. drops the new tariffs.
Whether the Trump administration will budge remains unclear.
For now, Cuban’s question hangs in the air: In an economy where small businesses employ nearly half the workforce, are they truly being ignored in favor of big industries?
As one user stated: “It’s not a few small businesses, it is millions being impacted. And 145% isn’t a tariff, it’s prohibition.”
The debate over who the tariff strategy helps and who it hurts is far from over.
IMAGE CREDIT: “Mark Cuban” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.