Cramer on CEO reaction to China trade war — some think Trump is stupid, others want to stop him
The Trump administration, at 12:01 a.m. ET last Friday, increased duties on $200 billion worth of Chinese products from 10% to 25%. On Monday, in retaliation, China announced plans to raise tariffs rates on $60 billion in U.S. goods. The president has also been threatening all along to put tariffs on the rest of China's imports.
Wall Street has been concerned higher tariffs could eventually harm U.S. businesses, especially those with lots of exposure to China. The moves from the Trump administration led to a massive sell-off to start the week. ButCramer on Friday said, "Why is everyone so confused by these [China moves from Trump]? I don't think he could be more clear. He's saying, 'Listen, I'm not going to do what the previous presidents have done.'"host added.
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