Shark Tank Star Kevin O’Leary Calls for 400% Tariffs on China

Shark Tank’s Kevin O’Leary doesn’t want to turn it up to eleven - he wants to turn it up 400%. 

President Donald Trump’s 104% tariffs on China took effect today, and China retaliated with 84% tariffs that will kick in tomorrow. Trump had initially floated a 10% tariff on Chinese imports. 

In response, O’Leary called for maximum pressure during an appearance on CNN’s Laura Coates.

O’Leary: 104% tariffs on China are not enough. I’m advocating 400%.

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. They take product technology, they steal it, they manufacture it and sell it back here.

In response to shocked Coates, O’Leary further explained:

O’Leary: I want [President] Xi [Jinping] on an airplane to Washington to level the playing field. This is not about tariffs anymore. Nobody 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 have been stolen by the Chinese. 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!’

I’ll tell you why. Xi can only stay the Supreme Leader if people are employed. 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. We will not have that forever. It’s time to squeeze Chinese heads into the wall now!

Most other countries have caved in response to Trump’s tariffs. Treasury Secretary Scott Bessent revealed that so far, 70 countries are looking to negotiate in response to them. The European Union has proposed a “zero for zero” tariff deal, but Trump is looking for more to close the U.S.’s trade deficit with them. 

Trump stated at the White House: “We have a deficit with the European Union of $350 billion and it's gonna disappear fast," Trump said. "One of the ways that that can disappear easily and quickly is they're gonna have to buy our energy from us ... they can buy it, we can knock off $350 billion in one week. They have to buy and commit to buy a like amount of energy.”