Investor and star of 'Shark Tank' Kevin O'Leary testifies before the Senate banking committee at the U.S. Capitol in Washington on Wednesday, Dec. 14, 2022.J. Scott Applewhite/The Associated Press
Donald Trump’s persistent talk of annexing Canada is partly bombast and means he wants an economic union, Canadian businessman Kevin O’Leary says.
Mr. O’Leary, also a reality TV star, has visited the U.S. president-elect at his Mar-a-Lago residence in Florida a number of times since Mr. Trump won the 2024 presidential election, most recently with Alberta Premier Danielle Smith this past weekend.
He said in his opinion, Mr. Trump’s talk represents opportunity for Canada, rather than a threat.
“Everyone in Canada should understand that Trump is bombastic and controversial, and they have to learn how to distinguish between the signal and the noise,” Mr. O’Leary said in an interview.
“The noise is: ‘I want to buy Canada, and I want it for a discount price, and everybody’s going to lose their sovereignty,‘” he said.
He said he doesn’t think the incoming president is envisioning a political union. What’s genuine, however, is a desire by Mr. Trump to break down economic barriers between Canada and the United States, he said.
“The signal is, ‘I want a strong economic union and create a behemoth force in North America.’”
Mr. O’Leary said people should focus on this. “Don’t get caught up with the noise and miss the opportunity the signal provides, is my message to Canadians.”
Trump’s Mar-a-Lago resort is a magnet for those seeking influence
He said Canadian leaders should visit Mar-a-Lago as soon as they can, suggesting it’s more important right now than the World Economic Forum in Davos, Switzerland, which takes place Jan. 20-24. An invite to the Palm Beach club offers access to Mr. Trump and his team that will not be possible once the Republican leader takes office next week.
“Mar-a-Lago has become effectively Davos. I’d argue I don’t have to go to Switzerland this year. I’ve done everything I need to do there.”
He said when he talked to Mr. Trump earlier this month, he advised the president-elect to wait until a federal election in Canada before negotiating with the Canadian government. Mr. O’Leary said he told Mr. Trump before Prime Minister Justin Trudeau announced he would resign that it was a “complete waste of time” to deal with Mr. Trudeau given his party’s standing in the polls.
“I’m not representing Canada or any other Canadian,” he said. “I’m just saying Trudeau is going to zero. He’s going to get wiped off the map. This was on the Saturday before he quit,” Mr. O’Leary recalled.
Trudeau accuses Trump of using talk of annexing Canada as a distraction
He said he had recommended Mr. Trump speak to Ms. Smith however because of Alberta’s role as a major supplier of petroleum to the United States.
Mr. O’Leary praised the Alberta leader for taking the initiative to meet Mr. Trump and his team. “She got ahead of the narrative. She went down there and formed a personal relationship with almost the entire cabinet,” he said.
He said Mar-a-Lago enables leaders to meet informally with the new administration before the weight of office settles on them. “It’s important because it’s the last time you’re going to get to have that conversation off the presidential record.”
He said he also talked to Mr. Trump about his plan to develop the world’s largest artificial intelligence data centre near Grand Prairie, Alta., as well as a proposal by a syndicate he’s part of to purchase TikTok.
Mr. O’Leary said one idea that was discussed multiple times during his meetings at Mar-a-Lago was getting rid of Canadian tariffs on U.S. imports and a removal of interprovincial trade barriers.
His vision would include a common currency between Canada and the United States and granting Canada as many as two seats on the board of governors of the U.S. federal reserve system.