Jim Cramer: I don’t understand why President Donald Trump would do a tariff delay |
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CNBC’s Jim Cramer cast doubt Tuesday about a report that the U.S. is planning to delay Sunday’s deadline on new American tariffs on Chinese goods not already subject to levies.
“My understanding is the president doesn’t know anything about this right now,” Cramer said. He spoke shortly after U.S. stock futures turned positive following a Wall Street Journal report that U.S. plans to delay the 15% tariffs on about $160 billion in Chinese goods. “I don’t want the viewers to be mistaken in thinking ... there’s a delay without hearing it from the president these days. I think it’s dangerous,” the “Mad Money” host said. “It seems that the Chinese are putting these stories out.” “The market wants any deal. Wall Street wants any deal,” Cramer warned, saying he’s watching Apple stock as a proxy for progress in the trade dispute. “It is the key to this market, because without a statement from the president exempting Apple, Samsung becomes the cheapest cellphone company,” he said. The U.S. tariffs set to go into effect Sunday on Chinese-made goods include smartphone and laptops and many other consumer products that have thus far escaped the pressures of trade duties. If the tariffs were to go into effect on Sunday as threatened, nearly all Chinese imports into the U.S. would be subject to levies. The U.S. brought in more than $539 billion in Chinese goods last year, according to government data. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC |