'Time to squeeze Chinese heads into the wall': Kevin O'Leary advocates for 400% tariffs on China

Just when we thought 104 per cent tariffs levied by the US on China were insane, Shark Tank judge Kevin O'Leary recently made a radical request to US President Donald Trump.

O'Leary requested Trump to slap tariffs of upto 400 per cent on China. In a conversation with CNN, O'Leary said that Washington has dealt with Beijing with kid gloves. 

"America is the no.1 economy on Earth with all the cards. We will not have that forever. It's time to squeeze Chinese heads into the wall," he asserted. 

The Shark Tank judge accused China of stealing intellectual property and indulging in unfair trade practices. Furthermore, he said that China has been in the World Trade Organisation (WTO) for decades and have never abided by any rules. 

"They cheat, they steal, they steal IP. I can't litigate their courts. They take product technology, they steal it, they manufacture it, and sell it back here."

Meanwhile, the Trump administration's reciprocal tariffs on China currently stand at 104 per cent. In response, Beijing raised their tariffs on US products from 34 per cent to 84 per cent. 

To this, Kevin O'Leary said the only solution to level the playing field between the US and China is to increase the pressure on Beijing with drastic measures. He also pitched for a meeting between Trump and Chinese President Xi Jinping to "level the playing field". 

He also said that no country including Europe and even the US government for decades has taken on China yet. 

Further clarifying his position, the Shark Tank judge said that he has nothing against the Chinese people but it is the government he has an issue with. 

"The government cheats and steals and finally an administration -- you may not like Trump, you may not like his style or his rhetoric -- finally, an administration that puts up and says 'Enough! 400 per cent tariffs tomorrow morning!"

Meanwhile, Chinese companies that sell products on Amazon are preparing to increase prices for the US or quitting the market due to the "unprecedented blow" from Trump's tariff hikes, news agency Reuters reported. 

"This isn't just a tax issue, it's that the entire cost structure gets entirely overwhelmed," said Wang Xin, the head of the Shenzhen Cross-Border E-Commerce Association, which represents more than 3,000 Amazon sellers.