Multi-millionaire venture capitalist Kevin O’Leary, the investor known as “Mr. Wonderful” on the reality TV show Shark Tank (created by Mark Burnett who was also behind The Apprentice starring Donald Trump), is defending President Trump’s decision to levy historically drastic tariffs around the world.
Hours before the U.S.’s 104 percent tariff on Chinese goods went into effect on Wednesday, O’Leary told CNN that “104 percent tariffs on China are not enough. I’m advocating 400 percent.” O’Leary, who does business China, says the country “does not play by the rules,” and even as a member of WTO for decades, “they don’t abide by the rules.”
"Xi can only stay the Supreme Leader if people are employed."
— Thomas Hern (@ThomasMHern) April 9, 2025
"America is the #1 economy on earth with all the cards. We will not have that forever. It's time to squeeze Chinese heads into the wall."
Kevin O'Leary calls for 400% tariffs on China. pic.twitter.com/8bDrttjsBw
O’Leary added about the government, “They cheat, the steal, they steal IP, I can’t litigate in their courts, they take product, they take technology, they steal it, they manufacture it, sell it back here.”
O’Leary defended his 400 percent tariff suggestion by saying: “Xi can only stay the Supreme Leader if people are employed.” He added: “America is the #1 economy on earth with all the cards. We will not have that forever. It’s time to squeeze Chinese heads into the wall.”
China owns the complete production chain and has enough domestic and international markets.
— Li Jingjing 李菁菁 (@Jingjing_Li) April 9, 2025
Good luck paying 400% more for your phones, coffee machines, washing machines, batteries, bikes, light bulbs, shirts, toys … and everything else you don't know coming from China.
Chinese journalist Li Jingjing replied to O’Leary on X: “China owns the complete production chain and has enough domestic and international markets. Good luck paying 400% more for your phones, coffee machines, washing machines, batteries, bikes, light bulbs, shirts, toys … and everything else you don’t know coming from China.”
Note: After Trump imposed a 104 percent tariff on Chinese goods, China retaliated with a 84 percent tariff; Europe is also expected to retaliate as well. Markets around the world fell again on the news.
