On April 10, 2025, Kevin O’Leary, the well-known investor from Shark Tank, delivered powerful testimony during a Senate hearing focused on the surge of unauthorized Chinese copies of American products. O’Leary passionately voiced his concerns on Instagram following the session, stating:
“I’m done watching American entrepreneurs get steamrolled. If Chinese companies want access to our legal system, then it’s time we get access to theirs. Until then? 400% tariffs.”
During his testimony, O’Leary highlighted that approximately 50 U.S. companies have faced legal hurdles trying to access Chinese courts. He illustrated the impact of this issue by citing the sale of counterfeit products on Alibaba at prices 30% lower than retail, underscoring the financial threat posed to American businesses. To address these challenges, he proposed two immediate actions: imposing a striking 400% tariff on Chinese imports and demanding equal legal access for American firms in China.
Kevin O’Leary Calls for Equal Court Access in Light of Counterfeit Issues
The Senate committee meeting featured robust discussions, particularly between Chairman Scott and O’Leary regarding pervasive product counterfeiting. Citing the case of Illinois-based WeatherTech, Chairman Scott pointed out how American manufacturers have discovered exact replicas of their products listed on Chinese e-commerce platforms without any prior connections to those manufacturers. O’Leary echoed this sentiment:
“You have just told the story of a million small businesses in America over the last 20 years. They innovate, they create, they’re entrepreneurs. They prove their product in the American consumer market at around five million in sales,”O’Leary remarked during the session.
O’Leary detailed a troubling trend where countless American businesses have shuttered their doors due to the relentless copying of their products by Chinese manufacturers. He noted that firms achieving sales of around $5 million in the U.S. market are particularly vulnerable to such unauthorized reproductions.
“American companies have always been very competitive anywhere on Earth when given a chance on a transparent and competitive playing field. That’s not the case in China. I’d like to see tomorrow morning 400 percent tariffs,”O’Leary stressed, advocating for rapid action.
The hearing laid bare the legal challenges facing American businesses in these counterfeiting cases. O’Leary asserted that there has been a substantial lack of legal recourse for American small businesses against Chinese counterfeiters in recent years.
“They got nothing for it. What would be their recourse? Right now, there is nothing they can do. You have just told the story of a million small businesses in America over the last 20 years…They’re knocked off by China, often by the same plants that ran the molds under a relationship they had with the company,”O’Leary elucidated to the Senate committee.
Additionally, O’Leary pointed out the disparity in legal access between Chinese and American companies, noting that while Chinese firms have full access to U.S. courts, American businesses face significant restrictions within China’s legal systems. He presented a clear proposal aimed at rectifying these trade imbalances.
O’Leary’s proposition centered on establishing reciprocal legal access. He suggested that Chinese businesses should be denied access to U.S. courts until similar legal rights are granted to American companies in China.
“Look, if you’re a Chinese company and you want to use our courts to litigate your complaint – sorry, not until you open yours. We’d love to work with you, but unless it’s a reciprocal plan,”O’Leary concluded during his testimony.
About Kevin O’Leary
O’Leary, known for his entrepreneurial prowess, has built a formidable career through a range of successful businesses. After earning his MBA from Ivey Business School at the University of Western Ontario in 1980, he co-founded Special Event Television, which became a prominent sports broadcasting company.
His most notable success came with Softkey, later renamed The Learning Company, which was acquired by Mattel for a staggering $4.2 billion in 1999, as reported by PR Newswire. O’Leary has also launched multiple ventures, including O’Leary Mortgages, O’Leary Fine Wines, and O’Leary Ventures, and he introduced an ETF through O’Shares Investments in 2015.
O’Leary’s contributions extend to the media, featuring prominently in both Canadian and American television through shows like Dragons’ Den and Shark Tank. As a venture capitalist on these platforms, he manages investments through his firm, Something Wonderful.
For ongoing updates about his initiatives and insights, followers can keep track of Kevin O’Leary on Instagram at @kevinolearytv.