Kevin O'Leary is giving President Donald Trump credit for striking a $42 billion tech deal with the U.K., but he's not holding back when it comes to tariffs. In a Fox Business interview and a post on X, the investor and “Shark Tank” star said recent trade policies are hurting American consumers and collectors like himself.
“Tariffs matter,” O'Leary wrote on X recently. “Right now, Canada is facing a 35% tariff on softwood lumber and aluminum. That's driving up the cost of housing in the U.S., because you can't replace those inputs overnight—it would take decades.”
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‘Not Workable,’ Says O’Leary
While O’Leary supports the idea of reciprocal trade, he says some of the current tariff arrangements go too far. “Policy should be reciprocal. 15% with Britain? Fine. But 35% with Canada and 39% with Switzerland? That's not workable,” he said.
O'Leary is especially frustrated about the Swiss tariff, which he says directly affects one of his favorite pastimes: luxury watch collecting. "The Swiss are, for lack of a better word, pissed off right now,” he said on Fox Business recently. “They are at a 39% tariff, they cannot figure out why. Tariffs were taken off gold bars, and it is killing me on my watch collecting."
He added jokingly, “All watch collectors in America are freaking out. We have to solve it right away.”
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When a Fox Business host asked whether Trump is “living up to the art of the deal,” O’Leary didn't disagree—but quickly added that the tariff details “are not working out so well” and that “something has to be done.”
Praise For U.K. Tech Partnership And Nuclear Focus
Despite the tariff complaints, O'Leary praised Trump's efforts in brokering what he called a “historic technology prosperity deal” with the U.K., which includes cooperation on quantum computing and nuclear energy.
“Private capital and equity pension plans, sovereign wealth funds seek stable environments for policies that are pro-business,” O'Leary told Fox Business. He pointed to expected returns between 11% and 17% as a reason why nuclear power is now drawing serious investor interest.
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With artificial intelligence pushing up demand for energy, especially in North America, O'Leary sees nuclear and stranded natural gas as realistic solutions. “The demand just in North America is 45 gigawatts. The Chinese are beating us right now because they’re using a lot of coal-fired electrical generation. Our solution? Well, nuclear is perfect.”
O'Leary also responded to former Vice President Al Gore's criticism that Trump is waging “jihad against green energy.” O’Leary argued that Gore's approach relied too heavily on taxpayer subsidies.
“Unless it’s market-driven, we’re not investing in technologies that don’t work,” O’Leary said, defending Trump's stance. “If the private sector wants to invest in wind and solar, let them. But without government subsidy, you don't make any money.”
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