In 2025 appearance on CNN’s “Laura Coates Live,” Kevin O’Leary called for extreme pressure on China, even as he acknowledged the escalating trade fight was putting serious strain on his own businesses at the time.
During that interview, the “Shark Tank” investor said the 104 percent tariffs on Chinese imports were nowhere near high enough.
“104% tariffs on China are not enough. I’m advocating 400%,” O’Leary said.
He argued that China has failed to follow global trade rules since joining the World Trade Organization in 2001.
“They don’t play by the rules,” he said, adding that in his view no U.S. administration or European government has taken meaningful action against Beijing.
O’Leary went even further, framing the trade battle as a moment of leverage for the United States.
“America is the No. 1 economy on Earth with all the cards. We will not have that forever,” he said. “It’s time to squeeze Chinese heads into the wall now.”
His comments came as President Donald Trump ramped up tariffs on China.
The administration initially imposed a 34% tariff under its “Liberation Day” trade policy, on top of existing 20% tariffs.
After China responded with its own 34% tariff on U.S. goods, the White House increased total tariffs to 104%.
Beijing then announced it would impose an 84% tariff on American imports.
Financial Fallout Hits His Portfolio
While O’Leary publicly supports even harsher measures, he acknowledged during a recent CNN live appearance that the real-world impact is already hitting his portfolio companies.
“It’s not a great day for me,” he said.
He described one company in his portfolio that generates about $100 million in sales.
That company has already paid roughly $5 million over the past 14 months due to tariffs. After the latest escalation, O’Leary said the reaction was immediate.
“I got phone calls from our customers, from our lenders because we board against our line of credit, and from our shareholders that we reduce distributions on during this period waiting to settle on the tariffs,” he said.
“They all want their money back.”
That demand is putting him in a difficult position. O’Leary said he is unsure how the new tariff payments will even be processed or filed.
“Now to be compliant, what am I supposed to do? I don’t even know how this is going to get filed. It’s going to be with Treasury, not the IRS, I assume,” he said.
He added that he plans to seek guidance from government staffers when he attends the State of the Union next week.
“I’m going to try and get a meeting with staffers, best of staffers, when I get to the State of the Union next week to see if they can give me some guidance because my head’s getting squeezed from the top and the bottom to be compliant,” he said.
O’Leary said the pressure is coming from both sides of the capital structure. Shareholders who accepted reduced distributions while waiting for tariff clarity now want repayment. Lenders tied to credit lines are also watching closely.
“Every business in America is going through this right now,” he said.
“There are people that want their money back within the distribution shareholder and lender system.”
To deal with the compliance burden, O’Leary said he is launching a new resource, Wondertrust.com, and hiring a massive team of professionals.
“I’m setting up a resource called wondertrust.com, hiring if not hundreds, thousands of accountants and lawyers because I don’t know how else to be compliant,” he said.
“What else are we supposed to do? Because everybody wants their money back. It’s not a great afternoon for me, to be honest with you,” he said.
Political Conviction Meets Business Reality
The contrast is striking. On one hand, O’Leary was pushing for tariffs nearly four times higher than current levels, arguing that only overwhelming economic pressure will force change in Beijing.
On the other hand, he is openly acknowledging that the existing tariffs are already creating cash flow strain, investor anxiety, and regulatory confusion for companies like his.
For O’Leary, the trade fight is both a political battle and a business problem. He believes the United States must act aggressively while it still has leverage.
But as tariffs climb and retaliation follows, the immediate result is financial stress at home.
And as he put it, that pressure is personal.
“My head’s getting squeezed.”