"I know you've been talking about the politics and the policy, but let's talk about a business making $100 million in sales. It might have paid out $5 million in the last 14 months on these tariffs. And they're in my portfolio. I got phone calls from our customers, from our lenders because we borrowed against our line of credit, and from our shareholders that we reduced distributions on during this period, waiting to settle on the tariffs. They all want their money back!"
"Now, to be compliant, what am I supposed to do? O'Leary said he's going to ask for guidance when he's at the State of the Union next week, because my head's getting squeezed from the top and the bottom to be compliant, and every business in America is going through this right nowthey've caused a nightmare here. He continued, No one ever thinks about the small business guy that's running a business, O'Leary said."
The U.S. Supreme Court held that tariffs imposed under the International Emergency Economic Powers Act violated federal law. Investor Kevin O'Leary reacted angrily, describing businesses that paid millions in tariffs, faced calls from customers, lenders, and shareholders, and reduced distributions while borrowing against lines of credit. O'Leary plans to seek guidance at the State of the Union about how businesses should recover and redistribute tariff payments. He warned of a compliance squeeze on companies and highlighted potential difficulty in retrieving roughly $150 billion from Treasury to reimburse those who paid the tariffs. President Trump attacked justices after the ruling.
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