Kevin O’Leary, investor and reality television figure, recently criticized former President Trump for not taking a tougher stance against China. Speaking on CNN, O’Leary argued that the current 104% tariffs were insufficient and called for a dramatic escalation: tariffs of up to 400%.
“It’s time to squeeze Chinese heads into the wall now!” O’Leary declared during his appearance.
The tension between the U.S. and China has reignited as tariffs climb on both sides. In January, Trump floated a 10% duty on Chinese products. Since then, rates have surged, prompting retaliation from Beijing, which raised levies on U.S. goods from 34% to 84%.
Markets around the globe responded poorly. Wall Street saw a sharp downturn, and bond yields spiked amid fears of prolonged conflict. The yield on the 10-year Treasury note reached 4.47% before easing slightly to 4.42%.
O’Leary, who has experience conducting business in China, leveled harsh accusations at the Chinese government, claiming years of abuse regarding intellectual property. “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.”
When CNN host Laura Coates challenged him about the severity of his suggestion, asking, “400% tariffs?” O’Leary remained firm. “I want [President] Xi [Jinping] on an airplane to Washington to level the playing field.”
He went further: “I speak for millions of Americans who have IP that have been stolen by the Chinese.” He continued, “You may not like Trump… finally, an administration that puts up and says ‘Enough! 400% tariffs tomorrow morning!'”
Originally published on Enstarz
