Kevin O'Leary wants Trump to hit China with 400% tariffs
a year ago
- #Trade War
- #US-China Relations
- #Tariffs
- Kevin O’Leary urges Trump to impose 400% tariffs on China to force negotiations on intellectual property theft and trade practices.
- Current US tariffs on China have risen from 10% to over 100%, with China retaliating by increasing tariffs on US imports from 34% to 84%.
- Global markets reacted negatively to new US tariffs and China's retaliation, causing significant drops in stock indices worldwide.
- O’Leary accuses China of systemic intellectual property violations, claiming they disregard WTO rules and steal technology.
- Trump's new tariffs include a 10% baseline rate, closing loopholes for online retailers like Temu and Shein, and a 25% tariff on foreign-made cars.
- O’Leary argues that China's export-dependent economy would suffer under extreme tariffs, pressuring Xi Jinping to negotiate.
- He emphasizes that the US holds significant economic leverage and should act decisively to protect American interests.