On Thursday, Kevin O’Leary, known for his role on Shark Tank, expressed strong views on U.S.-China trade relations. He accused China of unfair practices, including intellectual property theft from American companies.
What Happened: O’Leary highlighted that China has not adhered to promises made upon joining the World Trade Organization. He criticized the current U.S. response, stating, “That ends NOW.”
Recently, the Trump administration announced a 90-day pause on global tariffs, excluding China, whose tariff will rise to 125%.
O’Leary, however, believes this is insufficient and reiterated a 400% tariff on Chinese imports. He emphasized, “This isn't about politics. It's about FAIRNESS.” O’Leary’s comments came amid heightened trade tensions and significant policy shifts by the U.S. government.
Why It Matters: O’Leary’s call for increased tariffs comes as the U.S. takes a more aggressive stance on trade with China. The Trump administration’s recent announcement of a 125% tariff on Chinese goods has already sparked reactions in the market.
This move led to a surge in U.S. markets, with major indices reaching multi-month highs. The policy shift is seen as a targeted realignment, focusing on China while easing tariffs for U.S. allies.
O’Leary’s proposal for a 400% tariff underscores the ongoing debate over how to address trade imbalances and protect American innovation. His stance highlights the broader concerns about China’s trade practices and the need for a level playing field for U.S. businesses.
O’Leary, known as “Mr. Wonderful,” recently called for a 400% tariff on China, claiming the current 104% rate is too weak and accusing China of decades of unfair trade practices. He argued that the U.S. holds leverage, as President Xi Jinping’s power depends on sustaining employment.
O’Leary has been vocal about trade issues, previously discussing the EU’s tariff proposal as a chance for de-escalation.
Image via Shutterstock
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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