As tensions rise over global trade, entrepreneur and Shark Tank star Kevin O’Leary has a message for former President Donald Trump: now’s the time to pivot.
O’Leary is throwing his weight behind a proposed trade deal from European Commission President Ursula von der Leyen that could potentially reshape transatlantic trade.
The idea? A “zero-zero” tariff agreement where neither side imposes tariffs on industrial goods. And O’Leary thinks Trump should seize it.
Europe’s Opening the Door—Is the U.S. Willing to Walk In?
In an interview with Fox Business, O’Leary called the offer a “huge opportunity” for Trump to shift gears on his aggressive tariff strategy.
He pointed out that many U.S. industries—especially automotive—have struggled to break into European markets like Germany, France, and Switzerland due to high import taxes. But now, Europe seems ready to wipe those out.
“This could be the start of something big,” O’Leary said. “Use this as an example of how to negotiate.
You can say, ‘Look, there was chaos, but I got results.’”
A Model Deal for the Rest of the World?
O’Leary also believes this deal could set the tone for trade talks with other countries.
If the U.S. and EU can find common ground, it sends a powerful signal to the 59 other countries looking to strike deals of their own.
“The Eurozone is ready to open up,” he said. “This is your chance to set a new path forward.”
What’s Actually on the Table?
According to Politico, the proposed EU deal would remove tariffs on a wide range of goods, including vehicles, chemicals, pharmaceuticals, and machinery.
Essentially, this would create a more open market between the U.S. and Europe.
Even Elon Musk weighed in, supporting the idea of a zero-tariff zone between North America and Europe.
During a virtual rally in support of Italian Deputy PM Matteo Salvini, Musk said he hoped the two regions could form a “very close partnership” with “no tariffs.”
Trump’s Response? Not Impressed
Despite all this, Trump isn’t budging. Speaking to reporters, he dismissed the EU’s offer as insufficient, saying Europe had been “very tough” on the U.S. for years.
“They don’t take our cars, our agricultural products—hardly anything,” he said.
Trump also repeated a claim that the U.S. has a $350 billion trade deficit with the EU, though he insisted it’s going to shrink fast.
He believes energy exports could help reverse that deficit, adding, “They’re going to have to buy our energy.”
Permanent Tariffs or a Negotiation Strategy?
When asked if the tariffs were just a tactic to open trade talks, Trump was blunt: “We’re not looking at that.”
He emphasized that the tariffs were part of his “America First” strategy and hinted they could be permanent.
Still, he acknowledged some countries are eager to strike deals—but only on his terms.
“We’re not doing deficits,” he said. “We’re going to have surpluses or, at worst, break even.”
The EU Gears Up for Counterpunch
While Europe is extending an olive branch, they’re also preparing for a fight.
Von der Leyen made it clear that if the U.S. doesn’t back down, Europe is ready to impose its own countermeasures.
A package of retaliatory tariffs is expected to be rolled out on April 15, targeting a range of U.S. products.
The EU has also hinted at boosting its purchases of American liquid natural gas and increasing defense spending as bargaining chips.
Audi Hits Pause and Adds Fees
Meanwhile, some European companies are already feeling the heat. Audi, a subsidiary of Volkswagen, announced it’s holding vehicles at U.S. ports and introducing a new “import fee” that will be listed alongside other costs like taxes and upgrades.
It’s the first visible sign of how tariffs are starting to impact real-world pricing.
Trump Doubles Down on Tariffs—Even Targets China
Trump hasn’t limited his trade warnings to Europe. He also called out China, saying the trade deficit with Beijing is “the worst in the group” and that it’s “unsustainable.”
On his Truth Social page, he defended his strategy, claiming tariffs are already generating “tens of billions of dollars” and calling them “a beautiful thing to behold.”
He blamed his successor, President Biden, for increasing trade surpluses with foreign nations and promised to reverse the trend “QUICKLY.”
So, What’s Next?
With both sides digging in, the coming weeks could determine the future of U.S.–EU trade relations.
Will Trump take the “off-ramp” O’Leary is championing? Or will the world see an escalation of tariffs and counter-tariffs?
One thing’s for sure—this is no longer just about cars and chemicals.
It’s about who controls the future of global trade.