CNBC’s Jim Kramer unleashed President Donald Trump’s actions over the past few days, and concluded that investors should bear his point as they have barely challenged in many arenas.
“People on Wall Street, they should start taking the President of the United States more seriously, otherwise you’ll continue to lose money,” he said. “You don’t have to like him, but I beg you and listen to him.”
Kramer claimed that everything Trump does is “idol”, slapping 25% tariffs on imports from Mexico and Canada, pointing out 10% of goods from China. He later postponed tariffs for Mexico and Canada until a month, but Cramer said Trump could have sent more troops to the border to prevent Mexico from smuggling drugs. According to Cramer, Trander first paniced when Trump issued tariffs to China, but the market was able to recover when he realized he was trying to negotiate. He pointed out that he would make profits on many Chinese stocks on Tuesday. Baidu,, PDD and Alibaba.
Investors should also not underestimate Trump’s efforts to create a sovereign wealth fund, he added. Cramer went on to say that even though many people condemned the president’s cabinet pick, Senate Republicans ultimately “fallen” into his hopes.
Cramer praised the government’s system of checks and balance. But he said Trump appears to have very few checks for at least the next two years.
“You had to realize that Congress would not stop him. Aside from the clearly unconstitutional executive order, the courts will not stop him either,” Cramer said.
The White House did not immediately respond to requests for comment.
