Credited from: BUSINESSINSIDER
MrBeast, the popular YouTube entrepreneur, has openly criticized President Donald Trump’s recently implemented tariffs, stating that they have ironically made it less expensive to produce his Feastables chocolate bars outside the United States. In a series of posts on social media, he revealed that due to the current tariffs, it is now “way cheaper” to manufacture his products abroad as “other countries don’t have a 20%+ tariff on our cogs” (cost of goods sold).
MrBeast, whose real name is Jimmy Donaldson, highlighted the challenges the tariffs create for small businesses, saying, “a random price hike was pretty brutal.” He mentioned that his company, which operates in both the U.S. and Peru, generated approximately $250 million in sales in 2023, with a profit exceeding $20 million. Donaldson's commitment to fair trade practices emphasizes that his brand pays farmers a living wage and utilizes fair trade certified beans.
As the tariffs came into effect, many businesses faced heightened economic anxieties, with the stock market experiencing significant fluctuations. MrBeast's comments align with criticisms voiced by other notable personalities, including Dave Portnoy, founder of Barstool Sports, who echoed similar frustrations regarding Trump's impact on the economy, particularly for small enterprises.
Despite Trump's assurances that the tariffs aim to revitalize American manufacturing, market reactions show concern over potential economic consequences. The recent downturns in the stock market have prompted increasing skepticism among business leaders, including hedge fund manager Bill Ackman, who warned of a possible economic backlash.
MrBeast's concerns reflect the broader dilemma that many entrepreneurs face due to fluctuating trade policies. While he remains hopeful about navigating the challenges, he emphasizes the critical risks posed to smaller operations, stating that the current situation “could really be a nail in the coffin for them.” As businesses adapt to these new realities, the ongoing conversation regarding trade policy and economic strategies continues to evolve, highlighting tensions between objectives and practical outcomes.
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