Kevin O’Leary, the prominent investor from Shark Tank, has voiced strong objections to China’s trade practices, urging for a drastic increase in tariffs as a corrective measure against what he terms years of systematic violations. During an interview on CNN’s Laura Coates Live on April 9, O’Leary asserted:
“104% tariffs in China are not enough. I’m advocating 400%.”
Widely recognized for his role on Shark Tank, O’Leary emphasized that China has persistently ignored international trade agreements. He remarked:
“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.”
O’Leary’s Call for Stricter Tariffs on China
O’Leary’s comments come in the context of escalating trade tensions following tariff increases initiated by the Trump administration. These tariffs on Chinese imports have seen a considerable rise from 10% in January to a staggering 104% by April 2025. In retaliation, China imposed a 34% tariff on U.S. goods, intensifying the existing trade conflict.
In a video shared on X (formerly Twitter) on April 9, O’Leary reiterated his advocacy for heightened tariffs against China, pressing for even harsher policies during his CNN appearance. He stated:
“I want Xi [Jinping] on an airplane to Washington to level the playing field,” he said on Laura Coates Live. “This is not about tariffs anymore. Nobody has taken on China yet—not the Europeans, no administration for decades.”
Reflecting on his experiences as a businessman in China, O’Leary expressed his frustrations about the challenging landscape for foreign investors, particularly highlighting rampant intellectual property theft and the legal disadvantages facing international companies. He articulated this sentiment by stating:
“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.”
Importantly, O’Leary clarified that his criticisms were directed at the Chinese government rather than its people, expressing admiration for Chinese contributions to global developments in literacy, art, and technology. However, he condemned the government’s unethical practices.
Pressing U.S. Leadership for Action
The Shark Tank star emphasized the necessity for immediate action from U.S. leaders, underscoring America’s current economic leverage in global trade. He remarked:
“We are still 39% of all consumables on earth and 25% of the world’s GDP. America is the number one economy on earth with all the cards. We will not have that forever.”
O’Leary added, “Xi can only stay the supreme leader if people are employed. If we wipe out any business there… it’s time to squeeze Chinese heads into the wall now.”
These observations were made against the backdrop of President Trump’s aggressive tariff strategy aimed at compelling China to negotiate. Initially setting a tariff of 10% in January, the rate surged to 104% by April, drawing a strong retaliatory response from Beijing in the form of a 34% tariff against American products and a series of critical statements.
O’Leary on Global Tariffs and Trade Opportunities
On April 8, O’Leary also discussed the broader global tariff situation, endorsing a “zero-zero” tariff proposal from European Commission President Ursula von der Leyen. During his commentary on Fox Business, he noted:
“This is a really huge opportunity for Trump to find an off-ramp here in the administration.”
This initiative aims to eliminate tariffs on industrial goods exchanged between the U.S. and the Eurozone. O’Leary pointed out that Europe has been burdened with trade barriers, stating, “They’re willing to wipe those out,” and described this offer as a model for fair trade practices globally. He highlighted the dire state of the European economy, suggesting:
“The Eurozone has been brought to its knees. It’s willing to go zero-zero.”
He called on U.S. leadership to take advantage of this pivotal moment, proclaiming, “This is the opportunity. This is the moment.” However, despite growing enthusiasm for this proposal, President Trump rejected it, deeming it “not enough” while highlighting existing trade deficits with the EU.
Note: Catch Shark Tank every Friday at 8 PM EST on ABC.