Canadian businessman and “Shark Tank” star Kevin O’Leary appeared on Fox Business Thursday, voicing his dissatisfaction over Liberal Party Prime Minister Justin Trudeau’s imploding leadership. O’Leary suggested that under President-elect Donald Trump’s second term, the United States and Canadian economies should unite to create an economic powerhouse.
“This could be the beginning of an economic union,” O’Leary said, noting, “Think about the power of combining two economies, erasing the border between Canada and the United States and putting all that resource up to the northern borders where China and Russia are knocking on the doors. Give a common currency, figure out taxes, and get everything trading both ways.”
He added: “I like this idea and at least half of Canadians are interested.”
NEW: Shark Tank’s Kevin O’Leary, a Canadian, says he likes the idea of combining the US and Canadian economies, says he is heading to Mar-a-Lago to start the talks.
O’Leary said half of Canadians are interested in Trump’s proposal.
“[Canadians] want to hear more… what this… pic.twitter.com/ss2sjIADBC
— Collin Rugg (@CollinRugg) December 26, 2024
In recent weeks, Trump said it would be “a great idea” for Canada to become the 51st US state in an unfolding tariff dispute in North America. This prompted Trudeau to visit Trump’s Mar-a-Lago in South Florida.
On Christmas Day, Trump wrote on Truth Social: “No one can answer why we subsidize Canada to the tune of over $100,000,000 a year? Makes no sense!”
He continued, “Many Canadians want Canada to become the 51st State. They would save massively on taxes and military protection. I think it is a great idea. 51st State!!!”
Trump also made tariff threats against Canada to secure its border amid the expansion of fentanyl superlab production across Canada—much of which is destined for the US.
To O’Leary’s point, Trump’s threats to impose tariffs on Canada—highly integrated with the US economy, accounting for 60% of US crude oil imports and 85% of US electricity imports—could spark turmoil for its northern neighbor. To resolve this and ensure North America remains an economic powerhouse throughout this century, deeper economic integration and cooperation might be necessary.
Tyler Durden
Fri, 12/27/2024 – 18:30
