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In a recent interview with Fox Business, Kevin O'Leary, the coveted Shark Tank judge, discussed negotiations that the current administration needed to have with China. He stated that now was the time to address the things that the country had always expected from China and utilize the pressure put on them by tariffs.
"We have leverage. We also want to cut a deal. I want to sell stuff in China, I just want a level playing field," he said.
Kevin O'Leary is among the Shark Tank judges whose views in their areas of expertise, such as business, finance, and politics, are highly sought after. He regularly appears on interviews and podcasts to share his opinions and even simplifies higher political concepts for common people.
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In the said Fox interview, Kevin listed problems such as IP theft and access to their markets that the current administration needed to negotiate with the country.
What Shark Tank judge Kevin O'Leary said about negotiating with China
The host of the interview stated that tariff negotiations with China were currently underway, but China was denying it. To this, Kevin said that he wanted to solve the "big Kahuna problem" with China, which didn't only include tariffs but problems like IP theft, access to their markets, and delisting their companies that don't comply with the rules Americans have to comply with because it costs the country millions of dollars.
"Why do they get to do that? Why don't we just get it on the table?"
The Shark Tank judge said that he didn't care about the Chinese saying they weren't negotiating because he knew talks were underway, as they didn't have a choice. He added that the current administration had to "squeeze heads" while they were still the largest economy on earth.
Stating facts, Kevin said that Americans consumed 39% of everything and contributed to 26.1% of the world's GDP. He asked the administration to squeeze as much as they could out of China because they were under pressure from the tariffs. He added that now was also the time to do so because they might not get such an opportunity again. He finally wanted the administration to solve the problem because it had been 20 years.
"As far as the Trump Derangement Syndrome, I get it. Half the people don't like him. I don't even care about it anymore."
He explained that it wasn't about Trump, it was about settling a huge problem with an economy that cheated and stole IP and wanted to win by not paying for it. Kevin said he was done with that, and millions of other investors were also on his boat.
He reminded that Xi didn't have to face an election, but Trump had to face the midterms in less than two years. This meant that if the negotiations were underway they would have to reach resolution relatively quickly.
Kevin explained that a worker in China was making products that couldn’t be sold because the US wasn’t buying them. Without US consumers, the global market isn't big enough. He said Trump could try to fix this by printing more money to pay people, but that would cause hyperinflation, like what happened in Venezuela.
Kevin also said he wasn’t trying to be harsh on China, just wanted fair trade. He added he’d be willing to raise tariffs to 400% and even stop trade with China until they agree to negotiate.
For more updates from Shark Tank investor Kevin O'Leary, fans can follow the star's Instagram handle, @kevinolearytv.
