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Christopher Willard/ABC via Getty Images; Tingshu Wang-Pool via Getty Images
- Kevin O’Leary emphasizes the need for increased tariffs on Chinese imports.
- “The only language they understand is force,” O’Leary stated during his Fox News appearance.
- Former President Donald Trump has pledged to implement tariffs exceeding 60% on Chinese goods if re-elected.
O’Leary’s Call for Tariffs Against China
Investor and television personality Kevin O’Leary believes that the United States must take decisive action against China’s trade practices by enforcing substantial tariffs. His remarks came during an appearance on “Sunday Night in America with Trey Gowdy.”
“I want to escalate our stance against China significantly. While I generally oppose tariffs, I believe we need to apply pressure until they engage with us fairly,” he expressed emphatically. “Tariffs are a necessary tool in this situation,” he added.
“The only way to get through to them is by applying pressure. They respond only when faced with consequences,” he reiterated during the interview.
The Chinese only understand the stick and with enough economic pain, they will come to the table and play fairly. I don’t like tariffs against anybody else, but we need to bring China to its knees with HEAVY tariffs then we can have a level playing field.
pic.twitter.com/NpVH9sFriC— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv)
October 7, 2024
The Investor’s Frustration With China’s Market Practices
This isn’t an isolated incident of frustration from O’Leary regarding investments in China. Earlier this year, he shared his negative experiences while discussing investment challenges with Fox Business host Stuart Varney.
“As an investor who has stakes in Chinese markets over the past decade plus, I’ve faced numerous obstacles that have left me disillusioned,” he explained candidly. “I lack access to their legal system and find it perplexing that their companies can operate without adhering to similar regulations as those imposed on American firms.”
No immediate response was received from representatives of O’Leary regarding inquiries made outside trump-race/” title=”Obama's Top Strategist Warns: Kamala Harris is Surging, But It's Still Trump's Race to Win!”>standard business hours.
A Shared Perspective Among Politicians
O’Leary’s advocacy for heightened tariffs aligns closely with former President Donald Trump’s views on trade policy towards China. Trump has indicated plans for imposing over 60% duties should he regain office.
“While my intention isn’t necessarily punitive towards China—I value our relationship—it’s clear they’ve exploited our economy significantly,” Trump remarked during an interview earlier this year.
The former president also suggested potential penalties for U.S.-based companies relocating operations overseas—threatening a staggering 200% tariff against John Deere if it shifted manufacturing out of America into Mexico due to cost-cutting measures aimed at maximizing profits at workers’ expense.
Biden Administration’s Stance on Tariffs
The current administration under President Joe Biden has largely maintained Trump’s existing trade policies concerning China while also introducing additional restrictions and duties targeting various exports from there.
In May alone, new regulations saw taxes levied against electric vehicles imported from China surge dramatically—from 25% up to an unprecedented 100%, effectively barring many manufacturers from entering U.S markets altogether.
This move reflects ongoing tensions between both nations as each seeks leverage within global supply chains amid rising competition across multiple sectors!
(Source: Foreign Policy Magazine)....
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