Ever since President Donald Trump announced his tariffs back on April 2, a day he called “Liberation Day,” the world has been on a roller coaster ride it did not sign up for.
As they were originally presented, the tariffs would cause earth-shaking change for businesses across numerous sectors, from automotive to retail to technology.
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Those who relied on China for imports were possibly the most threatened, as at one point, back-and-forth clashes between Trump and the country led to a 145% tariff.
By May, Trump seemed to be backing down on some of his levies after talks with certain countries, leading voices on social media to come with with the acronym TACO, which stands for “Trumps Always Chickens Out.”Â
Trump lashed out at the accusation, saying, “It’s called negotiation.”
Related: Federal Court delivers massive blow to Trump’s tariff plan
Now a new chapter has opened in the tariffs saga after a federal trade court voided certain tariffs on May 28, followed by a similar ruling from the District Court of Washington, D.C. on May 29.Â
The White House immediately appealed, leading the U.S. Court of Appeals for the Federal Circuit to temporarily pause the void on tariffs while the appellate court decides what to do next.
As the battle rages on, one of President Trump’s most vocal tariff supporters has stepped up to give his own opinion on the matter.
Star investor Kevin O’Leary has something to say about the attack on Trump’s tariffs.
Image source: Willard/Disney via Getty Images
‘Shark Tank’ star predicts where tariffs are going
In a tweet posted on X early on the morning of May 30, tech investor and “Shark Tank” personality Kevin O’ Leary weighed in on the rapid changes unfolding with tariffs, taking a stand on his personal beliefs.
“I don’t care about the political theater; I care about policy and how it impacts markets,” the tweet read. “Trump’s tariff strategy might look chaotic, but it’s forcing the world to the table. Markets are near all-time highs, employment’s strong, and tech’s on fire. That’s what matters,” he said.
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O’Leary also posted a clip of himself in an interview with Fox News, where he dove deeper into the comments he summed up in the tweet.
“I don’t mind that this president and this administration has this unique attribute of doing everything, as sausage is being made, with a camera there,” he said. “Trump doesn’t care. So you’re watching sausage being made with all of this volatility just around the tariff narrative. He stretched and pushed the powers of the executive up against the courts. He doesn’t care. And they push back. He doesn’t care.”
O’Leary points out that, in his eyes, things are good under Trump’s rule.
“The market is now back near its highs. The economy almost full employment. We are killing it in tech, where I’m an investor. I’m very, very happy,” he said.
Then, O’Leary revealed what he thinks the president is really trying to achieve.Â
“And yet the market is starting to figure out that what really Trump is doing is getting us to a reciprocal tariff maybe around 10% by the time we get to the midterms,” he said. “That’s kind of the vibe in the market right now. And no administration has tried to negotiate 60 trade deals at once. That’s never been done. And so obviously now with these pushbacks from the courts…it’s gonna be a little slower.”
In another tweet sent the morning of May 30, O’Leary summed up his take, short and sweet.
“Most people get distracted by the chaos around Trump,” the tweet read. “I don’t. I follow policy, because that’s where the money is. He’s rewriting the rules of global trade. Ignore the spectacle. Track the signal. That’s how you win.”
Related: Shark Tank’s Kevin O’Leary warns Americans on Social Security problem
