Kevin O’Leary Challenges Goldman Sachs’ Recession Predictions
On April 1, 2025, Kevin O’Leary, renowned for his role on Shark Tank, took to X to share insights from a CNN interview where he contested Goldman Sachs’ forecasts regarding a potential recession. The video quickly garnered over 107,000 views, sparking discussions around market dynamics influenced by current trade policies.
“A lot of these forecasts are based on the idea that tariffs are going to be permanent and in perpetuity, and I don’t think that’s the case. I think what’s unusual about the situation we have now is Trump likes to actually let you watch sausage being made. He’s putting tariffs on the entire world. Never been done,”O’Leary stated during the broadcast.
In this critical analysis, O’Leary elaborated on the complexities of international trade, particularly emphasizing the necessity of reciprocal tariff negotiations, reminiscent of agreements made post-World War II.
“It’s really about making reciprocal tariffs with every country that applied these as far back as the second World War, and it’s a series of negotiations that are happening.”
Insights from Kevin O’Leary on Trade Policy and Recession Risks
During his CNN appearance, O’Leary dissected the rationale behind the current administration’s trade measures. He expressed skepticism regarding forecasts that place recession probability at over 35%, suggesting that such projections often rely on outdated assumptions about the permanence of tariffs. Contrasting with historical trade agreements like NAFTA, which primarily focused on selected trade partners, he pointed out that today’s approach seeks to align tariff rates across broader groups, including nations such as England, Canada, and Mexico.
However, he did not shy away from criticizing this strategy, labeling equal tariffs on all parties as “stupid”and “just dumb.”
“And so this is really an interesting dynamic, but it too will pass. I don’t think this is going to cause a recession. I don’t see it in my own companies yet, and I think it’s going to be short-lived,” O’Leary concluded.
The Canadian Political Landscape
O’Leary’s commentary extended to the current political climate in Canada, which he described as “toxic”due to ongoing elections. He critiqued Liberal leader Mark Carney’s tactics of capitalizing on the trade tensions as part of his campaign strategy.
“They’re using Trump to get out the base to vote anti-Trump everywhere. That’s what Carney’s doing, the Liberal leader who’s about to lose. And now he’s using Trump as the fulcrum to try and stay in power, or at least his party stays in power,”O’Leary asserted.
Furthermore, he highlighted a recent proposal by Senator Kennedy from Louisiana that suggests eliminating tariffs between the US and Canada, envisioning a more integrated economic partnership across the 49th parallel.
About Kevin O’Leary
Born on July 9, 1954, in Montreal, Quebec, Terence Thomas Kevin O’Leary has established himself as a prominent figure in both business and media. He holds a bachelor’s degree in environmental studies and psychology from the University of Waterloo, in addition to an MBA from the University of Western Ontario.
O’Leary’s career took off at Nabisco, where he was an assistant brand manager. He later co-founded SoftKey Software Products in 1986, focusing on educational software. His company experienced tremendous growth through acquisitions, ultimately leading to its purchase by Mattel for $4.2 billion in 1999.
With a current net worth estimated at around $400 million, O’Leary continues to play a significant role on ABC’s Shark Tank, a position he has held since 2009 after his tenure on Canada’s Dragons’ Den. He actively oversees O’Leary Ventures, a boutique venture capital firm, and frequently shares his economic insights across major news outlets.
To stay updated on his latest endeavors, fans can follow Kevin O’Leary on Instagram at @kevinolearytv.