Kevin O’Leary: ‘Shut Down Complete Trade with China and Start Squeezing Them Until They Come to the Table’

RUSH TRANSCRIPT:
LINE: “I want to to get your thoughts. It was a wild, wild week, and now it seems there’s at lot of negotiating going on, but we’re playing pretty tough with China right now. Your thoughts.”

O’LEARY: “Because China is not in the same group as the others. I mean, you can think about a circle of friendship with the E.u., England – which is not part of the E. I u – Switzerland and all the other countries, and, of course, Canada and Mexico. You can see that coming together with some kind of a resip procall tariff, and I think we’re well on the way there. China’s a different story. The problem with China is we have some real issues with them since 2000 when they came into the world trade organization. They’ve never complied by any of the rules. There are thousands of complaints registered at the wto, and they’ve never been adjudicated, never been resolved. Now, when I do business in China, I can’t use their court system and yet they can use ours. They can actually sue me here with knockoff products that they stole the ip from. And so we’ve got got a really imbalanced playing field. It’s not a level playing field at all. Even worse than that, I’m just duiing you a list of litany – giving you a list of litany that has to be resolved the trade tariffs. They get to use our capital markets, the New York Stock Exchange and the NASDAQ, they list companies that are not compliant with general accounting principles. You don’t even get a real share. You get a shadow share, and they don’t provide the right financial statements, and they’re not compliant. By the law, they should be getting delisted, and I believe they will be soon because a new sheriff in town. Paul Atkins just got approval to run the sec, and he’s going to be a China hawk, I believe. So all of this stuff has to get resolved. And that’s why my view is Why Don’t We just ratchet it up? Why mess around with these 25% a week increases, just go to 400 percent.”