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Yahoo
15-05-2025
- Business
- Yahoo
'Why Is That Okay?' – Kevin O'Leary Blasts U.S. Legal System As Chinese Companies Sue Americans After Stealing Ideas
Kevin O'Leary, entrepreneur and "Shark Tank" investor, is asking a question many American small business owners are starting to echo: "Why is that okay?" His remarks come amid growing concern that U.S. businesses are being squeezed by two forces—intellectual property disputes with overseas factories and steep import tariffs that threaten to sink startups before they can grow. O'Leary shared his frustrations during an April appearance on "The Megyn Kelly Show," where he reflected on the experience of Beth Benike, founder of Busy Baby. Her story, he said, represents a growing number of entrepreneurs caught in the crosshairs of trade and legal systems they can't control. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Invest where it hurts — and help millions heal:. Benike, a U.S. Army veteran, designs silicone placemats to help parents keep their babies' items off the floor. Her product gained popularity after a "Shark Tank" appearance. However, the decision to manufacture her products in China became problematic when tariffs increased dramatically. In an interview with NewsNation on April13, Benike said that she budgeted for tariffs in the 20%-30% range. But after the Trump administration increased duties on Chinese imports, her costs jumped by 145%, stranding her shipment overseas. She launched a GoFundMe campaign in April to raise $229,000 just to get her products released. O'Leary confirmed to Kelly he was familiar with the deal and Benike's dilemma. "This is certain death for some businesses," he said. "It's insane." Trending: How do billionaires pay less in income tax than you?. But that wasn't the only issue on his radar. O'Leary also criticized the growing number of cases where Chinese companies allegedly copy American inventions—and then sue the original creators in U.S. courts. "The crazy thing is Chinese companies use the American legal system to sue American companies after they've knocked them off," he said. Benike took to LinkedIn on April 10 to argue that products with American patents should be exempt from the tariffs. "Tariffs and IP theft should be two different conversations," she wrote. O'Leary, meanwhile, supports tariffs as a way to hold China accountable for what he described as widespread disregard for intellectual property to the FBI, approximately 80% of U.S. economic espionage cases in recent years have involved conduct benefiting China. The U.S. Trade Representative's 2025 National Trade Estimate Report also urged China to expand civil liability for misappropriation and increase criminal penalties for IP violations. Meanwhile, small businesses remain caught in the middle. The American Action Forum estimated that nearly 40% of Chinese imports are purchased by small businesses, many of which don't have the capital to weather a 100%+ tariff spike. A Budget Lab study from Yale in March found that tariffs have driven up consumer prices by 2.3%, equaling a $3,800 hit to the average U.S. household. For small firms, that's the difference between growth and closure. Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Why Is That Okay?' – Kevin O'Leary Blasts U.S. Legal System As Chinese Companies Sue Americans After Stealing Ideas originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Express
05-05-2025
- Business
- Daily Express
Tariff negotiations begin tomorrow, key goal is no tariffs on Malaysia: Tengku Zafrul
Published on: Monday, May 05, 2025 Published on: Mon, May 05, 2025 By: Bernama Text Size: KUALA LUMPUR: Malaysia will begin reciprocal tariff negotiations with the United States (US) on Tuesday, with the main objective of ensuring that no tariffs are imposed on the country, especially in key sectors, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz ( pic ). He said the negotiations will be held virtually, led by Deputy Secretary-General (Trade) Mastura Ahmad Mustafa as Malaysia's chief negotiator, alongside the Assistant US Trade Representative for Southeast Asia and the Pacific, Sarah Ellerman. He noted that the initial discussions aim to determine the scope and technical issues that need to be addressed to reach a mutually beneficial outcome. "In our discussions with the US administration, we stated that the objective is not merely to reduce tariffs, but we want to eliminate them altogether, if possible, with no tariffs imposed on our country. "In the upcoming negotiations, we will uphold that goal. At the very least, we aim to reduce tariffs, but our main priority is to avoid them entirely, particularly in key sectors," he said at a press conference after the special Dewan Rakyat sitting on the US tariff issue today. On April 24, Tengku Zafrul led a high-level delegation to Washington for talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer. The meeting emphasised the importance of continuous dialogue and Malaysia's readiness to find constructive solutions to issues raised by the US. Tengku Zafrul noted that the US has outlined four main areas of concern: trade imbalance, non-tariff barriers (as highlighted in the National Trade Estimate Report), technology safeguarding, and investment-related issues. "From their perspective, the trade imbalance — essentially a trade deficit — is viewed negatively. According to their data, the US recorded a US$25 billion trade deficit with Malaysia," he said. He added that the US also raised concerns over several non-tariff barriers, which they believe can be improved. On technology safeguarding, Tengku Zafrul explained that the US wants to ensure its technologies are not accessed by unauthorised parties. Regarding investment, he said the US is seeking more information on sectors where Malaysia invests and is encouraging support for industries aligned with US strategic interests. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
05-05-2025
- Business
- The Sun
Tariff negotiations begin tomorrow, key goal is no tariffs on Malaysia
KUALA LUMPUR: Malaysia will begin reciprocal tariff negotiations with the United States (US) on Tuesday, with the main objective of ensuring that no tariffs are imposed on the country, especially in key sectors, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said the negotiations will be held virtually, led by Deputy Secretary-General (Trade) Mastura Ahmad Mustafa as Malaysia's chief negotiator, alongside the Assistant US Trade Representative for Southeast Asia and the Pacific, Sarah Ellerman. He noted that the initial discussions aim to determine the scope and technical issues that need to be addressed to reach a mutually beneficial outcome. 'In our discussions with the US administration, we stated that the objective is not merely to reduce tariffs, but we want to eliminate them altogether, if possible, with no tariffs imposed on our country. 'In the upcoming negotiations, we will uphold that goal. At the very least, we aim to reduce tariffs, but our main priority is to avoid them entirely, particularly in key sectors,' he said at a press conference after the special Dewan Rakyat sitting on the US tariff issue today. On April 24, Tengku Zafrul led a high-level delegation to Washington for talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer. The meeting emphasised the importance of continuous dialogue and Malaysia's readiness to find constructive solutions to issues raised by the US. Tengku Zafrul noted that the US has outlined four main areas of concern: trade imbalance, non-tariff barriers (as highlighted in the National Trade Estimate Report), technology safeguarding, and investment-related issues. 'From their perspective, the trade imbalance — essentially a trade deficit — is viewed negatively. According to their data, the US recorded a US$25 billion trade deficit with Malaysia,' he said. He added that the US also raised concerns over several non-tariff barriers, which they believe can be improved. On technology safeguarding, Tengku Zafrul explained that the US wants to ensure its technologies are not accessed by unauthorised parties. Regarding investment, he said the US is seeking more information on sectors where Malaysia invests and is encouraging support for industries aligned with US strategic interests.
The Sun
05-05-2025
- Business
- The Sun
Tariff talks start tomorrow, aim to keep Malaysia tariff-free
KUALA LUMPUR: Malaysia will begin reciprocal tariff negotiations with the United States (US) on Tuesday, with the main objective of ensuring that no tariffs are imposed on the country, especially in key sectors, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said the negotiations will be held virtually, led by Deputy Secretary-General (Trade) Mastura Ahmad Mustafa as Malaysia's chief negotiator, alongside the Assistant US Trade Representative for Southeast Asia and the Pacific, Sarah Ellerman. He noted that the initial discussions aim to determine the scope and technical issues that need to be addressed to reach a mutually beneficial outcome. 'In our discussions with the US administration, we stated that the objective is not merely to reduce tariffs, but we want to eliminate them altogether, if possible, with no tariffs imposed on our country. 'In the upcoming negotiations, we will uphold that goal. At the very least, we aim to reduce tariffs, but our main priority is to avoid them entirely, particularly in key sectors,' he said at a press conference after the special Dewan Rakyat sitting on the US tariff issue today. On April 24, Tengku Zafrul led a high-level delegation to Washington for talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer. The meeting emphasised the importance of continuous dialogue and Malaysia's readiness to find constructive solutions to issues raised by the US. Tengku Zafrul noted that the US has outlined four main areas of concern: trade imbalance, non-tariff barriers (as highlighted in the National Trade Estimate Report), technology safeguarding, and investment-related issues. 'From their perspective, the trade imbalance — essentially a trade deficit — is viewed negatively. According to their data, the US recorded a US$25 billion trade deficit with Malaysia,' he said. He added that the US also raised concerns over several non-tariff barriers, which they believe can be improved. On technology safeguarding, Tengku Zafrul explained that the US wants to ensure its technologies are not accessed by unauthorised parties. Regarding investment, he said the US is seeking more information on sectors where Malaysia invests and is encouraging support for industries aligned with US strategic interests.
Daily Express
05-05-2025
- Business
- Daily Express
‘Malaysia does not impose 47 pct tariff on US imports, only 5.6 pct on average'
Published on: Monday, May 05, 2025 Published on: Mon, May 05, 2025 By: Bernama Text Size: For illustrative purposes only. - Getty Images/iStockphoto KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has refuted the United States's (US) claim that Malaysia has imposed a 47 per cent tariff on US imports into Malaysia. He said the calculation was based on the simple ratio of the US trade deficit with Malaysia to its total imports from Malaysia in 2024. Anwar said this claim was used as the basis by the US to impose a retaliatory tariff of 24 per cent on Malaysia, which is a 50 per cent reduction on the 47 per cent tariff that Malaysia is said to have imposed on imports from that country. 'We believe this calculation does not reflect the actual tariff level and is not based on sound economic theory. The fact is that, on average, tariffs imposed on US imports into Malaysia are only 5.6 per cent. 'This was acknowledged by the Office of the United States Trade Representative in the report '2025 National Trade Estimate Report on Foreign Trade Barriers of the President of the United States on the Trade Agreements Program' published on March 31, 2025,' the prime minister said during the Special Parliamentary Meeting on the US tariffs today. Anwar said that the government takes the US's imposition of retaliatory tariffs seriously. 'Therefore, taking into account the importance of the US as Malaysia's largest export destination and source of foreign investment, the government believes that any challenges to trade relations must be addressed pragmatically and based on national interests, while maintaining good relations with all of Malaysia's trading partners,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
