WARMINGTON: Mr. Wonderful floats flying to Trump’s Mar-a-Lago to chat U.S.-Canada relations

Kevin O'Leary believes a new business 'partnership' could make both countries economic powerhouses

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Published Dec 27, 2024  •  4 minute read

Kevin O'Leary Photo by Dia Dipasupil /Getty Images

This is a Shark Tank or Dragon’s Den pitch that has many Canadians divided on whether they are in or out.

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Canada’s own Mr. Wonderful says he’s ready to jump a flight to Mar-a-Lago in Florida to start a conversation with U.S. President-elect Donald Trump that will help both countries be the economic powerhouse of the world.

“I can be there within 48 hours,” Kevin O’Leary told the Toronto Sun on Friday. “As soon as I get an invitation, I will head down there.”

Needless to say, the Shark Tank star and famous investor and financial commentator turned a lot of heads with his recent appearance on FOX News where he broached a new idea for Canada and the United States to consider moving forward with.

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No invitation to West Palm Beach so far. But he has taken some heat from critics over his idea – lots of it.

“I am getting hammered on it, but I love it,” O’Leary said. “That is fantastic because it means people are talking about it.”

Whether you love the idea of having discussion or hate it, many are aware things are not working well for regular Canadians right now.

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Even before the reaction from those saying O’Leary is talking about selling out Canada, the former Dragon’s Den star was very clear that this would never be anything of the sort. I talked to him about that and he was adamant Canada will still be Canada but without the red tape that keeps Canadians from prospering. And finding a way to avoid a 25% tariff.

“What this could be is the beginning of an economic union,” said O’Leary. “That’s what I was talking about. Think about the power of combining the two economies and erasing the border between Canada and the United States.”

It would make Canada one of the most powerful economies in the world, O’Leary said. One currency, no border, no tariffs, no state or provincial taxes, one military, and all systems going in the same direction for the prosperity of all.

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“It’s not crazy,” he said. “(If we) end up with a common currency like they have in Europe where every Canadian would get a dollar at par our adversaries would (lose). We could crush them like cockroaches.”

“We could have some much power: economic power, military power, resources power and everything. I am really attracted to this deal and I know many Canadians are too,” O’Leary added.

All of this comes following Trump’s social media trolling of Prime Minister Justin Trudeau, teasing that Canada could become a 51st state and that if he doesn’t remain as its “governor” perhaps Wayne Gretzky could take the job.

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O’Leary, however, says that underneath the rhetoric what is really happening is both sides understanding the world is changing in favour China becoming the dominate economy in the years ahead – something that could be thwarted with a new business relationship between the two best friends, Canada and America.

“We are not talking about giving up Canada,” he said. “We are talking about an economic partnership.”

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That partnership could come with dollar parity, security arrangements, no trade tariffs of traditional border taxation or restrictions, and if Canadians wanted to set up a business in the U.S., they could just as much as Americans could do so in Canada.

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“It would be the introduction of an economic union,” O’Leary said. “With our resources, it would put both countries in the powerhouse position of the world.”

The only thing O’Leary wouldn’t want to see is it be Prime Minister Justin Trudeau negotiating whatever comes next.

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“Trudeau has been such a bad manager,” said O’Leary. “We can’t rid of that guy fast enough … nobody wants Trudeau to negotiate this deal. I don’t want him doing it for me, so I’m going to go to Mar-a-Lago” and “I’ll start the narrative.”

He said he’s prepared to float the concept but would “let the next government” negotiate it.

“I know I have no position of authority,” said O’Leary.

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But he knows Trump and he has been the Mar-a-Lago before – and they do speak the same language of business.

“President Trump is a good guy,” said O’Leary. “He’s a transactional guy.”

While many Canadians are not as enthusiastic as O’Leary is about such a concept, the Canadian businessman known all over the United States has heard from many who are.

“There’s 41 million Canadians sitting on the world’s largest amounts of all resources, including the most important, energy and water,” he said. “Canadians over the holidays have been talking about this. They want to hear more.”

Stayed tuned – because if Trump invites him down for a chat, perhaps there will be a lot of eyes and ears on this.

“He is having some fun with this thing,” O’Leary said of Trump trolling Trudeau. “But it doesn’t mean there isn’t a good kernel of an idea here.”

And it’s an idea he’s convinced will make Canadians a lot richer than they are currently under the carbon tax government, which has stifled Canada’s economy to a point when Canadians are finding themselves going to foodbanks and buried in debt.

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