Mark Cuban urges

Billionaire and Shark Tank investor Mark Cuban advised Americans to stock up on essentials like toothpaste and soap at big retailers such as Walmart ahead of new tariffs announced by Donald Trump. These tariffs include a 10% base rate for countries like the UK, Australia, and New Zealand, and higher rates for other nations. Cuban warned that companies might use the tariffs as an excuse to raise prices—even on products made in the U.S.—and encouraged people to buy consumables before retailers restock at higher costs.

While Cuban’s warning echoes expert concerns over price increases on items like alcohol, coffee, and perishable goods such as avocados, some financial professionals advise against panic buying. Economist Dr. Sung Won Sohn noted prices could rise quickly for imported items, while financial advisor Lawrence Sprung reassured consumers that goods will still be available, though potentially at higher prices. Catherine Irby Arnold of U.S. Bank emphasized that while consumers can’t control inflation or tariffs, they can adjust their spending habits to manage the impact.