China just raised tariffs on U.S. goods from 84% to 125%. It’s the latest move in a growing trade war. The Chinese Communist Party says it won’t retaliate further—for now.
Kevin O’Leary isn’t having it.
“Somewhere between $500 to $700 billion worth of market capitalization that should be delisted,” O’Leary said on Mornings with Maria. “Taken off the exchanges, add further pressure on the Chinese to come to the table.”
“And I speak on behalf of every American investor. Enough is enough,” he added. “I don’t know why this is going on. I’m only asking the new [SEC] chair: uphold the law, just uphold the law.”
O’Leary blasted China’s behavior since it joined the World Trade Organization in 2000. “They’ve never played by the rules,” he said. He wants them to face real consequences now.
“I’m an investor. I take companies public on NASDAQ and the New York Stock Exchange. I pay millions of dollars each year in compliance. I have no choice but to be compliant and transparent and abide by [Generally Accepted Accounting Principles],” O’Leary explained.
“And right beside me, issuing shares without any guidance at all, are Chinese companies,” he said. “It’s not even a real share. They don’t even have any rights. And they’re taking my dollar.”
“So I’m putting up my hand saying, wait a minute, just follow the law. Delist these companies, make them be compliant like I am.”
Meanwhile, President Trump has hit China with a 125% tariff. China’s finance ministry lashed out in response.
They called it “unilateral bullying.” In their words: “The US’s imposition of abnormally high tariffs on China seriously violates international economic and trade rules… If the U.S. continues to impose additional tariffs… China will ignore it.”
The tension is rising. O’Leary wants action. And China says it’s done playing fair.