Investor and "Shark Tank" star Kevin O'Leary applauded the work of the Trump administration on its negotiations with China on a trade deal, saying the finished product will "become the hallmark" for every other country's negotiations with the U.S.
O'Leary made the comments during a panel discussion on CNN on Monday night. His remarks came amid trade talks between the Trump administration and Chinese officials in Geneva.
President Donald Trump dropped tariffs on China from 145% to 30% while China dropped its reciprocal tariffs from 125% to 10%. The countries gave themselves another 90 days to get a trade deal done.
O'Leary said Treasury Secretary Scott Bessent "is doing a hell of a good job here," adding, "I give him a hundred out of a hundred, but we're not finished yet.
"So listen, keep going, but China is a special situation. When we get that deal done, it'll become the hallmark for all the other countries.
"And I think where we're going is a 10 in 10 reciprocal on everybody, call it a tax. That's really what's going on here, consumption tax in America. But you can't sell that to Congress, so you call it a tariff," he said.
O'Leary didn't think Trump's 145% tariffs on China were high enough, saying last month on CNN that the U.S. should impose 400% tariffs on China and calling it a time to "squeeze Chinese heads into the wall now."
"I wanted an embargo. I wanted to shut China trade down until they came to the table," O'Leary said Monday.
Mark Swanson ✉
Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.
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