“Shark Tank” investor Kevin O’Leary urged the Trump administration to clarify its tariff policy by saying the mixed message from the White House is “confusing.”
“It’s a bit confusing in terms of not getting a consistent message from the administration, and I’ll admit that’s the problem,” O’Leary told Fox Business Network’s Stuart Varney in an interview Monday. This was emphasized By media people.
“You know, [Commerce Secretary Howard] Lutnick says one thing [Interior Secretary Doug] Burgham says something else,” he continued.
“It has to be cleaned, and it’s self-harm,” he added. “They can fix it.”
Earlier this month, President Trump announced a 10% baseline tariff and additional tariffs on many countries. He said he wasn’t considering suspending mutual tariffs, but he later said he would reverse the course and cut the rate of increase to 10% in most countries over the 90-day period.
Even some Trump parties have questioned what the president’s ultimate goal is. Whether tariffs are a negotiation tactic to get better deals in the United States, or whether Americans should expect a fundamental shift into protectionist foreign policy.
However, O’Leary said he believes the fear of tariffs is exaggerated, and that there will be ongoing negotiations with China, and that the US believes there is leverage. Trump has increased China’s tariffs to 145%.
When asked if the US had a real, sturdy card in negotiations with China, O’Leary said, “Stuart, everything made in the factory is being consumed by Americans.”
Ollary said whether China’s President Xi Jinping could not sell those goods, “These people don’t have jobs. It’s going to be a bad outcome for him, it’s going to be a really bad outcome, and he knows that.”
“That’s the massive leverage we have at the table,” O’Leary continued. “If this lasts too long, there will be unemployment or massive inflation as he prints out the money to pay these people in his country.”
“It’s a 100% deadlock. He has to come to the table,” he added.
https://thehill.com/business/economy/5247902-kevin-oleary-trump-tariffs/
