Today, liberal Democrat Jim Cramer sang the praises of President Trump during this CNBC segment on tough trade negotiations with Communist China.
Cramer started out his segment by praising President Trump, “This is the strongest I’ve ever seen the economy. It’s also an unbelievable moment in terms of inflation. It’s just not there.”
“Why do we need the Chinese at all?” Cramer asked. “Why don’t we just say, ‘Ya know what? Pound sand, Chinese. We don’t need your market. We don’t need your market. We don’t get much from you. We don’t care about what you do with Apple or Starbucks or Young China or whatever. Be our guest. Don’t let ’em sell an IPO’s in this country.”
“Ya know what, Larry? How long will they last, Larry,” he asked. Mocking their talking points, “With this ‘We’re a long-gamer, and we do not need the U.S.'”
President Trump thanked Jim Cramer for his incredible praise.
— Donald J. Trump (@realDonaldTrump) August 6, 2019
Reuters reports – U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China, as Beijing warned that Washington’s decision to label it a currency manipulator would lead to chaos in financial markets.
Ratcheting up the pressure on China, the U.S. Treasury Department said on Monday it had determined for the first time since 1994 that Beijing was manipulating its currency.
The move followed China’s decision to let the yuan fall below the key seven-per-dollar level for the first time in more than a decade, rattling financial markets and dimming hopes for an end to a trade war that has dragged into a second year.
“China advised the United States to rein in its horse before the precipice, and be aware of its errors, and turn back from the wrong path,” it said.
The Trump administration wants to continue trade talks with China and is still planning to host a Chinese delegation for further talks in September, Larry Kudlow, director of the White House National Economic Council, told CNBC on Tuesday.
Kudlow said movement toward an agreement could change the outlook for U.S. tariffs, adding, “It takes two to tango.”
He added that the U.S. economy was still in good shape and said he saw no signs of a global recession on the horizon despite growing concerns the U.S.-China standoff is slowing manufacturing activity around the world.
“The U.S. economy is very strong. The rest of the world is not. We’re the engine that makes it go. Frankly, I see no signs,” Kudlow said, when asked about the prospect of a global recession. “The economic burden is falling vastly more on them (China) than us.”
Jim Cramer, Larry Kudlow’s former partner on the popular Kudlow and Cramer financial show, interviewed billionaire investor Kevin O’Leary, to get his take on Trump’s tough stance on trade reform with China.
The popular Shark Tank host, who is known by “Mr. Wonderful,” praised President Trump for his courageous efforts on trade talks with China. When Cramer asked why O’Leary isn’t more fearful about being hated by the media for supporting President Trump, O’Leary responded, “I’m really tired of the last fifteen years. Finally, an administration that’s batting for the guy that’s putting his capitol up there and getting screwed over, and over, and over and over again. Enough already! Let’s fix it!”
Billionaire investor, Mark Cuban, one of “Mr. Wonderful’s” co-hosts on the popular “Shark Tank” show, boldly and famously predicted that if President Trump won the 2016 election, that the stock market would crash.
Watch at the 5:30 mark:
It looks like one of the “Sharks” might be eating some crow right about now.