“Shark Tank” investor Kevin O’Leary called for more — way more — punitive trade measures against China on Wednesday, advocating for tariffs four times higher than President Donald Trump’s already steep 125% increase.
“My plan? 400% TARIFFS on Chinese imports. PERIOD,” O’Leary declared on X, dismissing Trump’s significant tariff hike as insufficient despite warnings from economists about potential damage to the US economy.
O’Leary’s push for essentially prohibitive tariffs comes as Trump paused planned reciprocal tariffs on 185 other countries for 90 days while singling out China for harsher treatment. The president maintained the baseline 10% tariff that took effect Saturday but raised China-specific rates well beyond his previously announced intention of 104%.
Economic experts have consistently warned that such aggressive tariff policies would likely trigger inflation, disrupt supply chains, and potentially harm American consumers and businesses dependent on Chinese imports. Yet O’Leary doubled down, insisting that China doesn’t “play fair” without addressing the complex economic repercussions his proposed 400% tariff would create.
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Former Treasury Secretary Larry Summers expressed serious alarm about the current situation, writing: “We are far from being out of the woods. Much credibility has been lost. Be afraid.” This stark warning from a respected economic authority stands in sharp contrast to O’Leary’s simplistic trade rhetoric.
The television personality’s extreme position appears to seek political favor with the Trump administration rather than offering a nuanced trade solution. Despite his own business interests potentially being affected by such punitive measures, O’Leary claimed to want a “LEVEL PLAYING FIELD” while advocating for a rate that would effectively eliminate Chinese imports entirely.
Hedge fund billionaire Bill Ackman offered a more diplomatic approach, suggesting China should “pick up the phone and call the President,” while characterizing Trump as “a tough but fair negotiator.”
Ray Dalio, founder of Bridgewater Associates, cautiously supported the pause on broader tariffs, describing Trump’s decision to negotiate as “a much better way” of addressing economic imbalances than immediate implementation of all threatened tariffs.
The 90-day pause announcement temporarily calmed markets that had tumbled following Trump’s April 2 “Liberation Day” tariff declaration, though uncertainty remains about long-term trade policy and its economic impacts.
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