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Mr. Wonderful is earning his nickname again.
Kevin O’Leary, the famous “Shark Tank” investor and television personality, in an appearance on Fox Business with host Stuart Varney, is dragging China’s prospects in the ongoing tariff conflict with the Trump administration, and he’s done it in his usual inimitable style.
“Shark Tank” investor Kevin O’Leary is taking another big bite at China over its tariff negotiation reluctance, warning they could be “virtually screwed” in a stalemate.
“The big behemoth story we’ve been talking about so much is China. We’ve got to figure out where they sit in trying to come into the narrative,” O’Leary said on “Varney & Co.” Monday.
He’s spoken about the tariffs before. And, yes, as my colleagues Nick Arama and Chase Jennings have recently described, he’s talked about jamming a 400 percent tariff right up Beijing’s fourth point of contact. But, he also acknowledges that this won’t happen – and tells us why.
“Even though I want 400% [tariffs], but that’s just bombastic, 100-plus percent wipes out all trade,” he continued. “Xi [Jinping], at some point, has to take the olive branch that’s been offered twice over the weekend by Trump.”
China, as I’ve written before, needs us more than we need China. We can afford to go without buying their stuff more easily than they can go without selling that stuff to us.