Kevin O’Leary, a prominent investor from Shark Tank, recently shared insights on the Eurozone’s ambitious zero-for-zero tariff proposal aimed at the United States. During an interview with CNN on April 9, 2025, he noted the significance of this proposal, stating:
“We’re talking about one of the largest economies on earth saying, ‘Okay, we get the joke. You wanna sell cars? You wanna sell a Corvette in Berlin? We’re okay at zero. We’ve never had that before. So let’s call that a huge win.”
While discussions regarding the deal were still ongoing at the time of O’Leary’s comments, he viewed the possible agreement as a major victory for U.S. trade policy. This proposal from the European Union suggested eliminating tariffs on cars and industrial goods, a move that preceded President Donald Trump’s tariff announcements by several weeks.
Key figures in the EU, including Maros Šefčovič, the Trade Commissioner, and Ursula von der Leyen, the Commission President, were optimistic about the plan’s implementation. However, President Trump expressed skepticism during a subsequent press conference, indicating that he would not consider the proposal and emphasizing the need for the EU to import energy from the U.S.
Despite the president’s hesitations, O’Leary maintained an optimistic stance, believing the proposal would significantly aid American businesses.
A Paradigm Shift in Trade: O’Leary’s Take on Eurozone Tariffs
When probed about the prospects of manufacturing iPhones in the United States, O’Leary stated:
“Moving manufacturing back to the U.S. takes a long time.”
He acknowledged the challenges involved in relocating production but expressed enthusiasm over the Eurozone’s intriguing proposition for a tariff-free marketplace for cars and industrial goods. This initiative, he explained, would foster an open market that encourages trade across numerous products and services.
“That’s a huge win,”he remarked.
O’Leary celebrated the proposal as unprecedented for the United States, urging the audience to “forget”about smaller trade partners and instead focus on the advantages presented by such a formidable economic entity.
Reaffirming its positive implications, he asserted that the proposal represents a substantial gain for both the government and the entrepreneurial community. O’Leary urged for further negotiations, stating:
“We haven’t done the deal yet, but let’s get the German people over here and start negotiating that.”
O’Leary speculated that a similar tariff agreement could emerge for agricultural products between Britain and the U.S., extending this zero tariff approach. He suggested that Canada would likely favor trading energy under these conditions, asserting it would be a transformative economic opportunity, particularly benefiting Trump’s administration.
Addressing Tariff Inequities: O’Leary’s Perspective on China
In another segment of the interview aired on April 7, O’Leary expressed stark views on China’s trade practices. He emphasized that the current 104% tariffs were insufficient, advocating for a much steeper 400% tariff.
“I do business with China. They don’t play by the rules. They’ve been in the WTO for decades. They’ve never abided by any of the rules they agreed to when they came in for decades,”he explained.
O’Leary elaborated on the challenges posed by intellectual property theft and the infringement of technology, which he claims have created an unfair trading landscape for American businesses.
Fans of Shark Tank can catch all episodes streaming on Hulu.