“Shark Tank” investor Kevin O’Leary is advocating for President Donald Trump to escalate tariffs on China, calling for a 400% tariff rate.
O’Leary made his case on CNN, arguing that the existing 104% tariffs are insufficient. He asserted that China does not adhere to international trade rules, citing issues such as cheating, theft, and intellectual property (IP) theft.
“I do business in China. 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 for decades. They cheat, they steal, they steal IP, I can’t litigate in their courts,” O’Leary stated.
READ: Scott Bessent: China Needs Access To US Market More Than America Needs Access To Their Economy
His comments come as the Trump administration continues to pursue its trade policies, with Press Secretary Karoline Leavitt confirming the implementation of the 104% tariff on Chinese imports. Leavitt also reiterated President Trump’s belief that China is open to negotiations.
O’Leary urged President Trump to take a hardline stance, saying, “I want [China’s President] Xi on an airplane to Washington to level the playing field.”
He framed his position as representing the frustration of many American businesses and individuals who have experienced IP theft and unfair competition from China.
READ: Asian And European Stocks Decline As US Tariffs Take Effect; China Retaliates
“This is not about tariffs anymore,” O’Leary said. “No one has taken on China yet. Not the Europeans. No administration for decades. As someone who actually does business there, I’ve had enough. I speak for millions of Americans who have IP that has been stolen by the Chinese.”
O’Leary believes that applying significant economic pressure on Chinese President Xi Jinping is necessary to compel him to negotiate.
“It’s the time to squeeze Chinese heads into the wall now,” he added, emphasizing the economic leverage the U.S. holds.
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