‘Shark Tank’ star Kevin O’Leary wants Trump to hit China with 400% tariffs: ‘Squeeze Chinese heads into the wall now!’
O’Leary, who is known by the nickname “Mr. Wonderful” for his blunt mannerisms and bluster, added: “It’s time to squeeze Chinese heads into the wall now!”
Tensions between the two economic giants have flared again in recent months
After Trump proposed a 10% tariff on Chinese imports in January, the number has quickly ballooned to over 100%.
Beijing responded with its own countermeasure — raising their tariffs on US imports from 34% to 84% — igniting both a trade skirmish and a heated rhetorical battle.
Global markets tumbled Wednesday following the implementation of sweeping new US tariffs and swift retaliation from China, fueling investor anxiety and setting Wall Street up for another volatile session.
The bond market took a major hit, with a selloff in US Treasurys drawing particular attention.
The yield on the 10-year note — a benchmark for countless loans and investments — climbed as high as 4.47% before settling around 4.42%.
Traders cited growing unease ahead of upcoming Treasury auctions, including 10-year notes on Wednesday and 30-year bonds on Thursday.
That tension spilled over into equities. Japan’s benchmark index plunged 3.9%, while European stocks shed about 4%, underscoring the global reach of the economic jitters.
O’Leary, who has done business in China for years, accused the Chinese government of systemic intellectual property violations.
Trump's sweeping tariffs explained
- A new 10% baseline rate and harsher “reciprocal” levies will impact dozens of countries, including key allies such as European Union members, Japan and Israel.
- Online Chinese retailers, such as Temu and Shein, are no longer exempt from tariffs, due to the closing of a trade loophole on de minimus goods.
- A 25% tariff has been issued on foreign-made cars, which impacts roughly half of all vehicles sold in America.
- Following Trump’s “Liberation Day,” the Dow plunged more than 1,000 points over fears of an all-out trade war.
“They don’t play by the rules. They’ve been in the WTO for decades, they have never abided by any of the rules they agreed to when they came in,” he said.
“They cheat, they steal, they steal IP. I can’t litigate in their courts. They take product technology, they steal it, they manufacture it and sell it back here.”
CNN host Laura Coates pushed back, questioning the extreme nature of his proposal: “400% tariffs?”
Unfazed, O’Leary doubled down.
“I want [President] Xi [Jinping] on an airplane to Washington to level the playing field. This is not about tariffs anymore,” he said.
“Nobody has taken on China yet. Not the Europeans. No administration for decades.”
He insisted that many US innovators and business owners feel the same frustration, noting that their work is often copied without consequence.
“I speak for millions of Americans who have IP that have been stolen by the Chinese,” he said.
“I have nothing against the Chinese people. They brought great literacy, art and tech to the world. The government cheats and steals and finally an administration — you may not like Trump, you may not like his style or his rhetoric — finally, an administration that puts up and says ‘Enough! 400% tariffs tomorrow morning!’”
O’Leary argued that China’s economy, deeply reliant on exports, would be forced to bend under extreme tariff pressure.
What do you think? Post a comment.
“Xi can only stay the Supreme Leader if people are employed,” he said.
“If we wipe out any business there — because we are still 39% of all consumables on Earth and 25% of the world’s GDP — America is the number one economy on Earth with all the cards.”
He added: “We will not have that forever. It’s time to squeeze Chinese heads into the wall now!”
0 Nhận xét