Shark Tank star Kevin O'Leary said Friday on Fox News Channel's “The Story” that President-elect Donald Trump will confront China with tariffs.
Mr O'Leary said: “I think what he's concerned about is goods and services that we import from China. Because we have trade wars and economic wars with the world because we have mutual tariff agreements. The rest of the world is fine. We've already negotiated with Canada and Mexico and some European countries. We're now at a tipping point, a crossroads with China. I think Biden will counter them as he started. Remember that we didn't eliminate tariffs on countries. They are not playing fair. And this is temporary. They are not sales tax forever. Basically, we set them so high that the top leaders worry about their jobs because we don't give them access to markets or tariffs. When people start losing their jobs, it puts pressure on his head.”
He added: “That's a good thing because the only way to save the supreme leader is to make sure everyone is employed.” Are they rioting in the streets? It's not a democracy there and it's a little weak now. So I say squeeze them tight and Trump will do it. I'm fine with this. I'm not worried about Walmart or Target right now. They will live with it. They've done it before. We have to resolve this issue with China now. ”
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