Canadian-born venture capitalist and Shark Tank star Kevin O’Leary has been vocal with his support of U.S. President Donald Trump. On Fox News on Saturday, O’Leary responded to Trump ending talks with Canada reportedly over the latter’s imposition of a digital services tax.
O’Leary said: “There should be no tariffs in either direction. These geographies are joined. You don’t have to merge the countries, but Canada has all the power, the water, the paper, the minerals, rare earths, and the US has the largest market. There should be no tariffs in any direction. I look at this saying it’s just more negotiation and it’s gonna get worked out, but the whole thing’s stupid.”
There should be no tariffs in either direction. These geographies are joined. You don't have to merge the countries, but Canada has all the power, the water, the paper, the minerals, rare earths, and the US has the largest market. There should be no tariffs in any direction.
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) June 27, 2025
I… pic.twitter.com/kLbdDuEkij
He added: “At the end of the day, that’s why they got rid of the idiot king. They put a new prime minister in place and he’s trying to fix things, but the Canadian economy’s been decimated. The idiot king is gone and there’s a new guy now and he’s gotta get this thing worked out.”
Note: “idiot king” is O’Leary’s disdainful way of describing former Canadian Prime Minister Justin Trudeau, whom he blames for the current tariff war. Trudeau’s government enacted the digital services tax act in 2024, imposing a three percent tax on tech companies operating in Canada, retroactive to 2022.
“The new guy” is the current Prime Minister Mark Carney, whose government will begin collecting the tax on June 30, a due date triggering Trump’s talk balk.
O’Leary said the whole trade war between the U.S. and Canada, which he refers to as “crapola,” is “a waste of time.” Seeking to distinguish between America’s allies and enemies, O’Leary reminds Americans, “We’re at war with China.”
In April, hours before the U.S.’s 104 percent tariff on Chinese goods went into effect, 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.” (Note: After Trump imposed a 104 percent tariff on Chinese goods, China retaliated with a 84 percent tariff.)
