mardi 13 novembre 2018

We are at war against the Chinese, and it's not just over trade

  • CNBC's Jim Cramer does not expect a trade deal between the U.S. and China any time soon.
  • President Trump and Chinese dictator Xi plan to meet around the G-20 summit later this month.
By Matthew J. Belvedere

President Donald Trump speaks during a press conference with Xi Jinping at the Great Hall of the People in Beijing on November 9, 2017.

CNBC's Jim Cramer said on Monday he does not expect a trade deal between the United States and China any time soon.
"I think we are at war against the Chinese, and it's not over. And the war is not just trade," Cramer said on "Squawk on the Street," taking cues from the speech that White House trade advisor Peter Navarro delivered last week.
Dr. Navarro said Friday any agreement between Washington and Beijing to end their trade dispute, which resulted in back-and-forth tariffs, will be on "President Donald J. Trump's terms, not Wall Street terms."
Cramer said the tone of Navarro's speech on economics reminded him of the kind of rhetoric that then-President Ronald Reagan used decades ago during the Cold War with Russia over nuclear arms.
"That's a speech that Reagan gave against the Soviet Union. And that didn't end well for the Soviet Union," said Cramer, the host of "Mad Money." 
"The G-20 is going to be so important."
Cramer was referencing the summit of the Group of 20 leaders in Buenos Aires, Argentina, at the end of the month when President Trump and Chinese dictator Xi Jinping plan to meet.
In September, the White House imposed its latest round of tariffs, totaling $200 billion of Chinese products. 
In response, China levied tariffs on $60 billion of U.S. goods.
President Trump has also threatened additional tariffs of $267 billion, which would basically cover the rest of all Chinese imports into the U.S.

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