Kevin O’Leary said the US needs to impose even heavier tariffs on China. “China only understands sticks, so you squeeze in tariffs,” O’Leary told Fox News on Sunday. Former President Donald Trump said he would impose tariffs of more than $5,000. If he wins, the vote will be 60% in favor of China.
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“Shark Tank” star Kevin O’Leary said the United States needs to level the playing field with China by imposing heavy tariffs on it.
O’Leary appeared on Fox News’ “Sunday Night in America with Trey Gordy” and called for tighter trade restrictions with China.
“I want to be in Defcon 19 with China. I don’t like tariffs against other countries, but I want to bring them to their knees with a torch to be fair with us. That’s why you use tariffs.” said Mr O’Leary. told Gordy on Sunday.
“The Chinese only understand the whip, so we oppress them. As I have said many times, they understand the whip, they respect the whip, and we give them the whip,” O’Leary said. he added.
The Chinese only understand the stick, and with enough economic pain they will come to the table and play fair. I don’t like putting tariffs on anyone, but to have a level playing field we need to bring China to its knees with heavy tariffs. pic.twitter.com/NpVH9sFriC
— Kevin O’Leary, aka Mr. Wonderful (@kevinolearytv) October 7, 2024
This is not the first time Mr O’Leary has expressed dissatisfaction with the Chinese market. O’Leary told Fox Business host Stuart Varney in August that he had bad experiences investing in China.
“I’m an investor. I have a position in China. And they’ve screwed me over for the last 12 years because everyone knows why I’m so biased," O’Leary said. told Bernie.
“I don’t have access to their courts. I don’t understand how they can take their company public without the same costs and compliance that I have to pay,” O’Leary added.
Representatives for Mr. O’Leary did not immediately respond to Business Insider’s request for comment outside of normal business hours.
O’Leary’s call for further tariffs echoes former President Donald Trump’s position on the issue. President Trump has said he intends to impose tariffs of more than 60% on Chinese goods if he returns to the White House.
President Trump told “Sunday Morning Futures” host Maria Bartiromo: “Obviously, I’m not going to hurt China. I want to get along with China. I think that’s great. But they’re really not trying to hurt our country. “I have been using it,” he said. In February.
The former president has also raised the possibility of imposing tariffs on American companies that move some of their operations overseas. In September, President Trump threatened to impose 200% tariffs on agricultural equipment company John Deere if it moved some of its manufacturing to Mexico.
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“They’re going to make a lot of money in Mexico by making products cheaply in Mexico and selling them at the same prices as before, taking our labor and jobs,” Trump told attendees at a conference on agricultural policy. Round Table Conference in Smithton, Pennsylvania.
To be sure, Trump is not the only politician to incorporate tariffs into economic policy.
First, President Joe Biden maintained most of President Trump’s trade restrictions on China. The Biden administration has gone further, imposing additional tariffs and tariffs on Chinese exports.
In May, the U.S. government raised tariffs on Chinese-made EVs from 25% to 100%, effectively banning Chinese automakers from the U.S. market.
Vice President Kamala Harris, who is competing with President Trump for the presidential election, criticized President Trump’s push to raise tariffs.
During the Sept. 10 presidential debate, Harris said President Trump’s tariffs were essentially a “sales tax” on American households.
Notably, Harris has not said whether she will keep Biden’s tariffs in place. But she said on her campaign website that she “will not tolerate unfair trade practices by China or our competitors that undermine American workers.”
In a statement to Foreign Policy magazine last month, a Harris campaign spokesperson said: “Vice President Harris will use targeted, strategic initiatives to support American workers, strengthen the economy, and hold our opponents accountable. We will introduce tariffs,” he said.
