Kevin O’Leary shares a way for Trump to avoid tariffs, suggests president should take advantage of the chance.

Kevin O’Leary, known for his role on Shark Tank, advised President Donald Trump to consider an alternative approach amidst the ongoing global economic downturn caused by the worldwide tariffs.

The 70-year-old entrepreneur expressed support for a proposed ‘zero-zero’ tariff agreement by European Commission President Ursula von der Leyen. This arrangement would involve both the United States and the Eurozone refraining from imposing tariffs on industrial goods.

‘This is a really huge opportunity for Trump to find an off-ramp here in the administration,’ O’Leary told Fox Business on Monday.  

‘When you consider the challenges faced by US car manufacturers trying to enter markets like Germany, Switzerland, and France due to existing restrictions, the potential elimination of such barriers is significant.’

O’Leary then went on to argue that Europe’s deal could be touted as an example to other countries that are willing to come to the negotiating table. 

‘Look, in the interim as we’re building our own factories in the US or whatever it is you want to look at, I’m going to show you how it’s done with [Europe],’ he suggested to the American president, calling the deal ‘the beginning of a beautiful outcome.

‘And you get to say to everybody, “Well look, it was a lot of volatility, but I got us there,”‘ O’Leary told Trump.

He also claimed that ‘the Eurozone has been brought to its knees.

‘It’s willing to go zero-zero and open it’s markets up – and that’s the key,’ O’Leary claimed.

‘The idea that you would open up the markets and set the path for every other negotiation of the other 59 countries… This is the opportunity. This is the moment.’

Under the European Union’s deal, cars and other goods – including chemicals, pharmaceuticals, rubber and plastic machinery – would not face tariffs in the United States or in any of the Eurozone countries, according to Politico.

The idea had been backed by DOGE Chief Elon Musk, who told a political rally last week that he hopes to see a ‘zero tariff situation’ between the US and Europe to create a free trade zone.

‘I hope that the United States and Europe can establish a very close partnership,’ the Tesla CEO said during the virtual rally of Italy‘s Deputy Prime Minister, Matteo Salvini.

‘I hope it is agreed that both Europe and the United States should move ideally in my view to a zero tariff situation, effectively creating a free trade zone between Europe and North America,’ the SpaceX founder continued.

The European Union currently charges average tariffs of 1.6 percent on US non-agricultural products, on a trade-weighted basis.

But it also charges a higher tariff of 10 percent on imported American vehicles.

Under Trump’s reciprocal tariffs, the Eurozone will now pay 20 percent on all goods from the United States.

The European Union has been negotiating with the United States for days to reverse the tariffs, with von der Leyen announcing her proposed deal on Monday.

European officials have also dangled other carrots like buying American liquid natural gas and ramping up military expenditures, according to the New York Times. 

At the same time, though, Leyen said the union is ‘prepared to respond through countermeasures and defend our interests.’

She has previously said legislators were ‘finalizing a first package of countermeasures’ and were preparing to implement even more as European stocks suffered their worst one-day fall since the start of the COVID pandemic.

European leaders now plan to implement the countermeasures on April 15, and sent a refined list of retaliatory tariffs to member state representatives on Monday.

In the meantime, Audi – the luxury arm of the world’s second largest global automaker, Volkswagen – announced that it is now holding its cars at US ports.

The company also said it will display a new ‘import fee,’ which will appear alongside standard charges like taxes and extras for optional features like heated seats or panoramic sunroofs.

The fee will appear alongside standard charges like tax and extras for optional features like heated seats or panoramic sunroofs. 

Yet Trump has thus far held firm, telling reporters on Monday that the European Union’s offer was not enough to get him to reverse his tariffs on the 27-state bloc.

‘The EU has been very tough over the years,’ he said. ‘It was formed to really do damage to the United States in trade.

‘They don’t take our cars – like Japan in that sense,’ the president continued. ‘They don’t take our agricultural product; they don’t take anything practically.’

He went on to claim that the United States has a trade deficit with the European Union of $350 billion – though he claimed the deficit is ‘going to disappear fast,’ according to the New York Post.

‘And one of the ways that that can disappear easily and quickly is they’re going to have to buy our energy from us,’ Trump said. 

When the president was then asked whether the global tariffs were just an opening for trade negotiations, he replied: ‘We’re not looking at that.’

‘We have very many countries that are coming to negotiate deals with us. And they’re going to be fair deals.

‘In certain cases, they’re going to be paying substantial tariffs.

‘This is America First,’ Trump added. ‘There can be permanent tariffs and there can also be negotiations.

‘It’s the only chance that we will have to reset the table,’ he said, claiming 90,000 manufacturing plants have disappeared since the North American Free Trade Association took effect. 

The president made similar remarks aboard Air Force One on Sunday, as he boasted that foreign powers were begging him to make a trade deal with them, but he brushed off their requests and defiantly continued on with his plans. 

‘They’re dying to make a deal,’ Trump claimed as he revealed his conditions for any such agreements.

‘But I said we’re not going to have deficits with your country. We’re not going to do that because, to me, a deficit is a loss. We’re going to have surpluses, or we’re, at worst, going to be breaking even.’ 

Trump then went on to issue a warning to China, which he declared ‘would be the worst in the group because the deficit is so big and [it] would have been unsustainable.’

On his Truth Social page, the president also claimed the US has ‘massive Financial Deficits with China, the European Union and many others.

‘The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the USA,’ he said amid the economic turmoil.  

‘They are already in effect and a beautiful thing to behold,’ Trump said.

‘The Surplus with these countries has grown during the “presidency” of Sleepy Joe Biden. We are going to reverse it and reverse it QUICKLY.’

‘Some day people will realize that Tariffs, for the United State of America, are a very beautiful thing.’