Shark Tank star Kevin O’Leary said on Friday on Fox News Channel’s “The Story” that President-elect Donald Trump would take on China with tariffs.
O’Leary said, “I think what he’s being concerned about is the goods and services he imports from China. There is going to be tariffs on China that are very aggressive and that’s because we’re in a trade war with China, an economic war with them. The rest of the world is going to be just fine because we have reciprocal tariff agreements. We’ve already negotiated the Canadian and Mexican one and some European countries. We’re at a tilting point, a crossing point with China. And I think Trump is going to take them on as he started to. Remember, Biden didn’t remove the Chinese tariffs. China needs to be dealt with. They are not playing fair. We’re not getting access to their markets. And this is going to be temporary. They’re not sales taxes in perpetuity. They’re not inflationary in perpetuity. You basically raise them very high so the Supreme Leader gets worried about his job. If people start getting unemployed because we’ve not given them access to their markets and tariffs, his head gets squeezed.”
He added, “And that’s a good thing because the only way you can save the Supreme Leader is to make sure everybody gets employed. Are they rioting in the streets? That is not a democracy over there and they’re a little weak right now. So I say squeeze them hard and Trump’s gonna do it. I’m okay with all this. I’m not worried about Walmart right now or Target. They’ll live with it. They’ve done it before. We’ve got to get this thing worked out with China now.”
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