Trump and Xi's Game of Chicken: Kevin O'Leary's Take on Tariffs and Trade
Trump and Xi's Game of Chicken: Insights from Kevin O'Leary
O'Leary joined "The Hill" to discuss President Trump's escalating war of words with the Federal Reserve and China regarding tariffs and trade. Canadian businessman and "Shark Tank" star Kevin O'Leary said President Trump and Chinese President Xi Jinping are "playing a game of chicken" and reiterated his proposal for Trump to hit China with a 400 percent tariff.
O'Leary emphasized that the situation with China is becoming increasingly volatile, stating, "This China stuff is getting crazy, but I like the fact that [Trump is] squeezing this deal. We've got to resolve it's not about trade anymore with China." He elaborated that it’s not just about trade; it concerns intellectual property rights and market access. O'Leary argues that Chinese companies engaging in trade on American markets complicates the dynamics further.
He firmly believes that imposing a 400 percent tariff on Chinese goods entering the U.S. would be a game-changer. "You know you got to be bombastic about this stuff," he said. "Xi and Trump ... it's a game of chicken. Two cars coming at each other. You're gonna have to resolve it." O'Leary also reiterated the importance of implementing strong tariffs to support small businesses, which are crucial to the U.S. economy: "Let's remind everybody that 62 percent of jobs in America are created by small companies, five to 500 employees." In his view, these businesses are the fundamental essence of the American economy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.