Billionaire Mark Cuban urges stockpiling consumables before Trump's tariffs hit, but experts disagree

With a fresh round of tariffs shaking up global trade, billionaire entrepreneur and Shark Tank investor Mark Cuban is sounding the alarm. His advice? Stock up on essentials at Walmart and other big-box stores—before it’s too late. But while Cuban’s words have sparked a flurry of speculation, financial experts warn against panic buying.

On Wednesday, President Donald Trump announced sweeping tariff measures, imposing a minimum 10% levy on imported goods. The stock market responded with a sharp plunge, with the S&P 500 tumbling 3%, marking its worst day since September 2022. The immediate fallout has left both investors and everyday consumers wondering: How much will this affect their wallets?

Cuban’s Urgent Warning: Buy Now, Save Later

Cuban didn’t hold back in his advice to consumers. Posting on Bluesky, he urged people to stock up on household essentials before retailers adjust their prices to account for the tariffs.

“It’s not a bad idea to go to the local Walmart or big-box retailer and buy lots of consumables now,” Cuban wrote. “From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory.”

He doubled down on his warning, suggesting that even domestically produced goods could see price hikes: “Even if it’s made in the USA, they will jack up the price and blame it on tariffs.”

Experts Say: Don’t Panic, Just Prepare

While Cuban’s message may ignite a sense of urgency, financial experts caution against an all-out buying spree. While some price increases are inevitable, they won’t happen overnight.

“At the end of the day, consumers will be able to get the goods they need or want, but they may need to pay more for them at a later date if the tariffs are implemented,” said Lawrence Sprung while talking to CNBC Make It. Sprung is a certified financial planner based in Long Island.

Jason Gilbert, founder of RGA Investment Advisors, echoed this sentiment, warning against making financial decisions based on headlines alone. Instead, he advises focusing on what you can control—like strengthening your emergency fund and reassessing your budget—rather than rushing to hoard supplies.

“It’s really important to try to pick things that you can control and that you can make an impact on at the moment,” added Catherine Irby Arnold, senior VP at U.S. Bank.

If you’re wondering whether to rush to Walmart or hold off, the answer lies somewhere in between. Here’s what experts suggest:

• Prioritize necessities: If you rely on certain imported goods regularly, it may be worth buying a little extra now.
• Avoid impulse stockpiling: Buying in bulk makes sense for consumables, but panic buying could lead to unnecessary financial strain.
• Be strategic with big-ticket purchases: If you don’t need a new car or appliance immediately, it may be wise to wait and see how price adjustments play out.
• Shop smart: Consider looking for products made in the U.S. or from countries less affected by tariffs to avoid higher costs.

The unrecognized failure of the Trump tariffs approach is that he is depending on big global companies to create manufacturing jobs here. He has completely ignored entrepreneurs and innovators.

Innovators and entrepreneurs will create disruption. Instead of focusing on…

— Mark Cuban (@mcuban) April 3, 2025

The Bigger Picture: What’s Next?

While Cuban’s warning has sparked debate, the true impact of Trump’s tariffs will take time to unfold. For now, consumers should stay informed, prepare wisely, and resist the urge to let fear dictate their spending habits.

One thing is certain: Whether you stock up or sit tight, the economic landscape is shifting—and only time will tell how deep the ripple effects will go.