A prominent Canadian business leader is calling on President Trump to significantly escalate trade tensions with China by imposing tariffs as high as 400 percent.
Kevin O’Leary recently stated that the current level of tariffs – just 104 percent – are insufficient, advocating for a much more aggressive approach towards Beijing. This sentiment was voiced shortly before President Trump announced a surprising increase in tariffs on China to 125 percent amid already strained relations between the two global powers.
O’Leary, speaking to CNN, expressed frustration with China’s business practices, stating, “I do business with China. They don’t play by the rules.” He pointed out that Beijing has consistently disregarded World Trade Organization regulations since joining in 2001. He continued, “This is not about tariffs anymore. Nobody has taken on China yet – not the Europeans, no administration for decades.”
“As someone who actually does business there, I’ve had enough,” he declared.
O’Leary argued that America, as the world’s leading economy, needs to leverage its strength and asserted that a key path to influencing President Xi Jinping is through economic pressure. He believes crippling Chinese businesses with substantial tariffs is necessary for change.
“America is the No. 1 economy on Earth with all the cards. We will not have that forever. It’s time to squeeze Chinese heads into the wall now,” he urged.
The ongoing trade war, initiated by Trump’s initial tariff announcements in April – dubbed “Liberation Day” – has caused volatility across global stock markets. However, earlier this week, Trump announced a temporary reprieve from tariffs for 75 countries that did not retaliate, and signaled his intention to pursue trade agreements.
Sharing the news on Truth Social, he stated that he had “authorised a 90 day pause, and a substantially lowered reciprocal tariff during this period, of 10 per cent.”
Despite this, Trump swiftly responded to China’s reported plans for an 84 percent tariff by dramatically increasing American tariffs on Chinese goods. He declared: “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125 per cent, effective immediately.”
Speaking at the White House, Trump defended his actions, stating that implementing tariffs requires courage. “[It] takes guts for our country to go through it,” he commented. “That’s why I say be cool. They were saying about just be cool. It’s going to work out. It’s going to work out… maybe faster than I thought. It’s going to take a little conditioning. It’s a transition to greatness. There’ll be nothing like it. And people investing in our country, they’re going to do better than they’ve ever done before.”
- Kevin O’Leary advocates for 400% tariffs on China
- Trump increases tariffs on China to 125%
- Temporary tariff pause for 75 non-retaliating countries
