Kevin O'Leary

And what he's saying, if you leave out all the bombastic statements, and I always say this about Trump, you gotta forget about the noise, you gotta focus on the signal. Because if you don't understand that after 12 years of Trump, you never will. So the noise is all the volatility in the market. The signal is this.

And what he's saying, if you leave out all the bombastic statements, and I always say this about Trump, you gotta forget about the noise, you gotta focus on the signal. Because if you don't understand that after 12 years of Trump, you never will. So the noise is all the volatility in the market. The signal is this.

What he wants and what his administration wants, Lutnik wants and Burgum wants and all the rest of them working on this stuff is reciprocal tariffs, including zero. So if you think about this, Take car parts in Germany. I always use that example. They had outrageous tariffs on car parts going into Germany. And American companies want to compete on the componentry of all kinds of cars.

What he wants and what his administration wants, Lutnik wants and Burgum wants and all the rest of them working on this stuff is reciprocal tariffs, including zero. So if you think about this, Take car parts in Germany. I always use that example. They had outrageous tariffs on car parts going into Germany. And American companies want to compete on the componentry of all kinds of cars.

What he wants and what his administration wants, Lutnik wants and Burgum wants and all the rest of them working on this stuff is reciprocal tariffs, including zero. So if you think about this, Take car parts in Germany. I always use that example. They had outrageous tariffs on car parts going into Germany. And American companies want to compete on the componentry of all kinds of cars.

And they can't because they have some crazy tariff. So Trump is saying, I'm going to throw on the same crazy tariff on car parts from Germany coming into the United States. Right away... rational minds would say, well, that's not going to work for both of us. It's kind of dumb. Why don't we take that down to 10% or zero?

And they can't because they have some crazy tariff. So Trump is saying, I'm going to throw on the same crazy tariff on car parts from Germany coming into the United States. Right away... rational minds would say, well, that's not going to work for both of us. It's kind of dumb. Why don't we take that down to 10% or zero?

And they can't because they have some crazy tariff. So Trump is saying, I'm going to throw on the same crazy tariff on car parts from Germany coming into the United States. Right away... rational minds would say, well, that's not going to work for both of us. It's kind of dumb. Why don't we take that down to 10% or zero?

And then we're going to end up, this is why I'm an optimist, with these giant trading partners at zero tariffs. So we'll open up the border to Mexico and Canada and have free trade there eventually after this gets worked out, because there'll be no tariffs in either direction. It's nobody's benefit.

And then we're going to end up, this is why I'm an optimist, with these giant trading partners at zero tariffs. So we'll open up the border to Mexico and Canada and have free trade there eventually after this gets worked out, because there'll be no tariffs in either direction. It's nobody's benefit.

And then we're going to end up, this is why I'm an optimist, with these giant trading partners at zero tariffs. So we'll open up the border to Mexico and Canada and have free trade there eventually after this gets worked out, because there'll be no tariffs in either direction. It's nobody's benefit.

The case in Canada right now, there's an election on the 28th, so it's very close after that gets done. They'll be negotiating. and England and lots of other ones have already stated openly, I'm willing to go to zero to get a deal done. So all of these things will get worked out. And during this period, lots of volatility, because it's not just tariffs today, it's Trump beating up on the Fed.

The case in Canada right now, there's an election on the 28th, so it's very close after that gets done. They'll be negotiating. and England and lots of other ones have already stated openly, I'm willing to go to zero to get a deal done. So all of these things will get worked out. And during this period, lots of volatility, because it's not just tariffs today, it's Trump beating up on the Fed.

The case in Canada right now, there's an election on the 28th, so it's very close after that gets done. They'll be negotiating. and England and lots of other ones have already stated openly, I'm willing to go to zero to get a deal done. So all of these things will get worked out. And during this period, lots of volatility, because it's not just tariffs today, it's Trump beating up on the Fed.

And this is an old game that's been going on for every administration, including bipartisanly. The executive always beats up on the Fed because the Fed is independent and you can't job on them into making decisions about interest rates. The Fed is worried that these tariffs stay on too long, particularly with China, and they're inflationary. Inflation right now is still north of 2%.

And this is an old game that's been going on for every administration, including bipartisanly. The executive always beats up on the Fed because the Fed is independent and you can't job on them into making decisions about interest rates. The Fed is worried that these tariffs stay on too long, particularly with China, and they're inflationary. Inflation right now is still north of 2%.

And this is an old game that's been going on for every administration, including bipartisanly. The executive always beats up on the Fed because the Fed is independent and you can't job on them into making decisions about interest rates. The Fed is worried that these tariffs stay on too long, particularly with China, and they're inflationary. Inflation right now is still north of 2%.

So if I were the Fed, I wouldn't drop rates either because I'm going to look like an idiot in 90 days when inflation is going up because of tariffs not down. So that's a different issue. That adds volatility. But my point is, all the tariffs are going to get worked out except for China. China's a different deal.

So if I were the Fed, I wouldn't drop rates either because I'm going to look like an idiot in 90 days when inflation is going up because of tariffs not down. So that's a different issue. That adds volatility. But my point is, all the tariffs are going to get worked out except for China. China's a different deal.

So if I were the Fed, I wouldn't drop rates either because I'm going to look like an idiot in 90 days when inflation is going up because of tariffs not down. So that's a different issue. That adds volatility. But my point is, all the tariffs are going to get worked out except for China. China's a different deal.