In a high-profile appeal that’s turning heads in both political and business circles, entrepreneur and “Shark Tank” star Kevin O’Leary is calling on President Donald Trump to take a game-changing step: accept the European Union’s proposal for a zero-tariff agreement on industrial goods. Amid rising global concerns over Trump’s recent wave of tariffs—dubbed “Liberation Day” measures—O’Leary sees a golden opportunity for the administration to reduce international tensions and boost U.S. economic growth.
O’Leary’s remarks came during a recent Fox Business interview, where he urged the President to “seize the opportunity” and take the EU’s offer as an “off-ramp” from a potentially damaging trade war. With American manufacturers facing steep costs and markets entering a period of volatility, the Shark Tank investor believes this proposal could be the lifeline needed to stabilize the economy and restore confidence.
In this article, we break down what this tariff off-ramp means, why it matters now, and what it could mean for the future of U.S. trade.
The Trump Tariffs and Their Global Fallout
To understand the urgency behind O’Leary’s message, it’s important to grasp the current tariff landscape. In March 2025, President Trump announced a sweeping package of import taxes known as the “Liberation Day” tariffs. The policy, intended to “reclaim American manufacturing sovereignty,” slapped steep tariffs on a wide range of foreign goods—from steel and electronics to pharmaceuticals and cars.
While the move earned praise from some protectionist circles, it triggered immediate backlash from global trade partners. The EU, China, and others responded with their own retaliatory measures, igniting fears of a full-scale trade war. Stock markets reacted violently, and U.S. manufacturers reported sharp increases in costs across their supply chains.
Economists from J.P. Morgan and Goldman Sachs have since revised growth forecasts downward, and predictions of a looming recession are gaining traction. As business confidence wanes, many are now questioning whether the tariffs are doing more harm than good.
Enter Kevin O’Leary, with a proposal he believes could change the tide.
Kevin O’Leary’s Strategic Proposal
Speaking to Fox Business, Kevin O’Leary laid out what he sees as a win-win solution: the United States should pursue a zero-tariff trade deal with the European Union, specifically for industrial goods. The EU, he said, is already signaling a willingness to negotiate such an agreement—particularly in the automotive sector, where U.S. exports have historically faced steep barriers.
O’Leary emphasized that American carmakers face tariffs as high as 10% in countries like Germany and France, making it harder for them to compete in one of the world’s largest consumer markets. Removing those tariffs could unleash significant growth potential for U.S. manufacturing and re-balance trade relationships in a productive way.
“This is the off-ramp,” O’Leary said. “This is how we get out of the tariff quagmire and return to a place where we’re growing, not shrinking. But it has to be now. You can’t let this opportunity pass.”
Why the EU’s Proposal Matters Now
Timing is everything in geopolitics, and O’Leary knows it. The EU’s proposal to eliminate tariffs on industrial goods comes at a moment when both sides are suffering from economic friction. European companies, particularly in tech and automotive industries, are also grappling with higher costs and reduced access to American markets due to the U.S. tariffs.
By proposing a mutual zero-tariff agreement, the EU is offering a path forward—a way to de-escalate tensions, restore supply chain efficiency, and boost economic cooperation. And as O’Leary points out, this isn’t just a lifeline for Europe; it’s a huge opportunity for the U.S. to expand its export reach, especially in sectors like automotive, aerospace, and heavy machinery.
“If we don’t step into this space, someone else will,” O’Leary warned. “Trade doesn’t wait. Either we shape the deal, or we get sidelined by countries that will.”
The Automotive Sector at the Heart of the Deal
Nowhere are the stakes higher than in the automotive industry. For years, U.S. automakers have struggled with European tariffs that make their vehicles more expensive than locally produced models. As a result, exports from companies like Ford, GM, and Tesla have faced uphill battles breaking into or expanding within the EU market.
A zero-tariff trade deal would level the playing field, allowing American brands to compete on merit rather than price distortion caused by protectionist policies. And with electric vehicles becoming the future of the industry, timing is especially critical. Europe’s EV market is booming, and U.S. firms stand to benefit significantly if trade barriers are lifted now.
O’Leary emphasized this point, noting that removing tariffs could revitalize U.S. manufacturing, create jobs, and improve competitiveness—without sacrificing sovereignty or national interest.
