Investor and television personality Kevin O’Leary predicts widespread unrest when President-elect Donald Trump’s new tariffs on Chinese imports take effect. Speaking on a televised panel, O’Leary claims the tariffs, aimed at rebalancing trade with China, will lead to “riots in the streets” as American consumers and businesses grapple with higher costs on a range of goods.
Trump’s proposed tariffs are part of his broader economic strategy to reduce the United States’ trade deficit with China and bring manufacturing jobs back to America. The plan, which includes duties on electronics, apparel, and industrial components, is expected to significantly increase prices for both businesses and consumers. While Trump and his administration argue the tariffs are necessary to protect American industries, critics, including O’Leary, warn of severe economic and social consequences.
O’Leary highlights the potential ripple effects on small businesses, many of which rely on low-cost Chinese imports to keep operations running smoothly. He points to rising input costs that could force businesses to increase prices, lay off workers, or shut down entirely. Additionally, O’Leary emphasizes the disproportionate impact on low- and middle-income families, who are already grappling with inflation and economic uncertainty.
The tariffs have sparked intense debate among economists, policymakers, and industry leaders. Proponents argue that imposing duties on Chinese imports will incentivize domestic production, create jobs, and reduce reliance on foreign supply chains. However, critics, including O’Leary, caution that the short-term economic pain could outweigh the potential long-term gains.
Public sentiment appears divided, with supporters of the tariffs praising Trump’s tough stance on China, while opponents express concern about the financial strain on households and businesses. Labor unions and manufacturing advocates view the tariffs as a step toward leveling the playing field, but consumer advocacy groups warn of the increased burden on everyday Americans.
O’Leary’s stark warning of “riots in the streets” underscores the high stakes of Trump’s economic policies as he prepares to take office. With businesses, workers, and consumers bracing for the impact, the success or failure of the tariffs will likely play a significant role in shaping the next four years of Trump’s presidency and the broader U.S.-China relationship.
