"China is a different kettle of fish" — Shark Tank investor Kevin O'Leary gives his opinion on trade complexities
Kevin O'Leary, who is famous for appearing on ABC's reality show Shark Tank, posted a snippet of his appearance on CNN. The clip was posted on his social media accounts on May 1, 2025, where he discussed the current state of the economic market and the role of businesses in it.
Kevin was asked what the administration should do for small businesses, which often lack the financial stability of larger companies. The Shark Tank investor claimed that getting "deal one" done would calm the markets and even reassure his own investors.
He revealed that many of the 50-plus private companies he has invested in are anxiously waiting for a deal.
Kevin further stated that finalizing the first deal would create a positive ripple effect, as it may lead to agreements with other countries as well. However, when the reporter mentioned China, the Shark Tank investor pointed out that China's situation is different, as they pose a different set of problems altogether.
"No, not fair. China is a different kettle of fish. They are not a tariff problem. They steal IP. They don't give us access to their markets. They don't trade by the World Trade," stated Kevin O'Leary.
Shark Tank investor Kevin O'Leary weighs in on trade deals and tariffs
In the same interview, the reporter acknowledged the entrepreneur's point but mentioned that small businesses view tariffs as a China-related issue. Agreeing with this, Kevin further stated that China sells significantly more to the US than it buys.
He revealed that many of his companies have their products in transit, as they await the outcome of trade negotiations.
The Shark Tank investor believed China was willing to negotiate due to its own economic challenges. The entrepreneur also claimed that China was very much reliant on the US market, which accounts for a large portion of global consumption.
However, he again repeated that a deal with China would be more complex than others, as China would need to address long-standing issues.
"The US represents 39% of all consumption goods, so they have to get a deal done. But I'm saying the China deal will not be as simple as taking the India deal," said the Shark Tank investor.
Later, Kevin O'Leary shared his thoughts on the Chamber's request to waive tariffs for small business importers and exclude products that aren't readily available in the US. The Shark Tank investor mentioned that currently, the Chamber was making these requests without knowing the details of the trade deals.
According to him, it would be better to wait and see the specifics of the first deal, which might be announced soon. The entrepreneur wanted to know if the deal would involve eliminating tariffs entirely or if it would address trade imbalances between countries.
He used India as an example, speculating about a potential deal and how tariffs might be adjusted.
"Let's say it was India. I'm speculating. It is India, and they were charging us 110% on automotive going into India, and we were not charging anything near their automotive coming back into the US. So it's completely imbalanced," added O'Leary.
Kevin O'Leary also noted that the US doesn't have a value-added tax (VAT), unlike many other countries. He speculated that the US might use tariffs as a form of VAT.
He thought a 10% tariff might not significantly harm US businesses and wondered if this could set a template for future trade agreements with other countries.
The entrepreneur pointed out that companies like Rolex were already passing on tariff costs to consumers, even though there was no trade imbalance with Switzerland.
