“Shark Tank” judge Kevin O’Leary said on Wednesday that President Donald Trump was taking it too easy on Communist China when he introduce...
“Shark Tank” judge Kevin O’Leary said on Wednesday that President Donald Trump was taking it too easy on Communist China when he introduced a 104% tariff on Chinese imports. In the days since the 104% tariff was first announced, both China and the United States have implemented retaliatory tariffs bring the total tax on Chinese imports to 125%.
O’Leary explained during a CNN appearance that China had flouted the rules of fair trade for far too long, and that it was past time for someone to force their hand — in fact, he advocated a 400% tariff on all Chinese goods.
He shared a clip of his appearance via X, along with the following caption: “104% tariffs on China are not enough. I’m advocating 400%. I do business with China. 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 for decades. They cheat, they steal, they steal IP. I can’t litigate in their courts. They take product, technology, they steal it, they manufacture it and sell it back here. Nobody has taken on China yet, not the Europeans, no administration for decades. As someone who actually does business there, I’ve had enough. I speak for millions of Americans who have IP that have been stolen by the Chinese. 400% tariffs tomorrow morning!”
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Trump announced on Wednesday that he was setting tariffs against China at 125%, following China’s retaliation against the tariffs imposed on most nations under the president’s “Liberation Day” plan.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump announced via Truth Social.
“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he added. “Thank you for your attention to this matter!”
While a number of other countries had responded to the “Liberation Day” tariffs by calling for negotiations — which was exactly what Trump had said he wanted — China had opted instead to retaliate with 84% tariffs.