Patrón tequila tycoon defends Trump tariffs
The American billionaire behind Patrón tequila and Paul Mitchell hair products has hit back at criticism of Donald Trump's import tariffs.
John Paul DeJoria said that trade imbalances had weakened economies on both sides of the Atlantic.
A blanket import tax of 10 per cent is the only 'fair' way of combating countries that are taking advantage of the US, he said.
'Everybody should be on the same playing levels,' he said. 'I think, long term, this is all going to mellow out because it's a good thing.'
DeJoria, who has starred on America's version of Dragons' Den, boasts an estimated fortune of $2.9 billion. He co-founded John Paul Mitchell Systems, and remains the company's owner and chairman.
Operating across 125 countries, DeJoria admitted
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