O’Leary predicts ‘riots in the streets’ when Trump’s China tariffs go into effect

let's bring in oir Ventures chairman Shark Tank investor Kevin oir Kevin don't you love this I mean he does he does start with these totally wild ideas although when you really think about them I mean the Panama Canal treaty I remember when it was debated Ronald Reagan debated with Bill Buckley about it and so forth it is a contract and and it is a contract that has been broken literally thousands of times by the government of Panama and China want to get its greedy hands on it what do you think the possibility is of of

Donald Trump coming and say hey look you guys broke your contract it's ours well I think we know it's 100% probability that's going to happen but Trump is a transactional guy he's a negotiator I think everybody understands that now there's no doubt and he picks his fights one at a time last week it was Canada now it's Panama and wow we got Greenland on this list too so I mean look it's it's uh a very interesting way to start uh governing before you're actually the president you do it by social media you wake everybody up

they come flying to Mar marago it makes sense to me I don't see any reason why you can't do it but the China thing in Panama is an issue because if that was in any way affected and we didn't get access that's a money saver for shipping in a very big way so my guess is an Envoy goes down there sometime in February and they start squeezing Panamanian heads to get a new deal by the way your crackle your microphone is crackling a little just give it a little uh tug or something just just on

your your microphone there I think it's uh it's there I think you got it uh the difference between Canada and China is Monumental I mean Trudeau came into the US uh bowed at the feet of Donald Trump and folded like a cheap suit I don't sense the same kind of reaction coming from shei uh what what's going to happen with she they're going to play hard ball it is going to be hard ball between the two presidents uh we know that she wants to become number one by knocking us down whether it's it's legally through

through more trade or illegally through things like Fentanyl and everything he's been trying to do that for years we know that's his his uh Mo how do you think Trump is going to respond to that I mean I I suspect it'll be like we saw in the first term where he comes in strong with these these new tffs don't you China is a different issue completely to Canada or any other country um the only way got to remember since 1999 since they came into the World Trade Organization they have broken the rules with every country

including the US every year I'm I'm an individual who does business there my businesses have been absolutely screwed I've said it countless times they don't play by the rules there's nothing reciprocal in our relations the only way to make it work with the supreme leader as I like to call him is to inflict massive economic pain and risk on him by imposing tariffs on sectors where many Chinese people are employed I have nothing against Chinese people I have a lot against their government and the only way to put him at risk is to say look

if you want to mess with the largest economy you trade with then we're going to force a lot of people that make yoga mats or Electronics or whatever it else it is to be unemployed in your cities they'll be riding in the streets they won't have any bread and you will be out of power that is the only way it's going to work so very selected high impact Weaponry uh like tariffs but you got to be hardcore he only understands the stick that's all he understands any weakness at all he plays off and he has

done so for years so I'm hoping this is the administration that fixes the problem I have really been hurt by China and there are millions of other businesses in America the same boat I'm in absolutely by the way you mentioned the World Trade Organization they still designate China as a developing Nation what that entitles China to are all these these sweetheart loans that we partially pay for through the WTO adding up to billions of extra dollars for the Chinese should Trump try to eliminate that designation of developing Nation for China they're not a developing Nation

they're an economic war with us and many European countries that's got to get fixed all that stuff has to get fixed 40 Years of getting screwed that's what's happened and 40 years by the way of getting benefits that they don't deserve and and the Euros have gone right in there and and when there's a a a democrat in the White House they go right along but I think it's going to be different now very quickly the SEC as we were just talking about in the previous segment is going to change dramatically under Donald Trump Paul

Atkins is is a big free market guy unlike his predecessor so what are you expecting in terms of opportunities that we couldn't see in the United States because the SEC played such a such a tough cop role that we won't see during the Trump Administration what more opportunities will exist they'll exist because decisions will be made particularly in the crypto and digital payment systems markets where we should be leading worldwide and we're falling behind because we can't make up our minds and listen Gensler had a point of view that everybody understood he just litigated his

way into the courts on it we need to get some decisions so that firms like mine can be compliant we want to play by the rules as we do in every other Market the debt the equity the options Market just tell us what the rules are that's all we need to know and that once that's put in place you will see an orderly transition into bringing crypto into the overall economic institutional infrastructure that's what we want good stuff Kevin thank you so much for being here I have a wonderful new year if I don't see

you appreciate you coming on