Up until this week, Jim Cramer from CNBC’s “Mad Money” had been supportive of President Donald Trump’s proposal to reduce tariffs on imported products—but once he reviewed the specifics of the plan, his perspective changed.
The "Freedom Day" tariffs impose new duties ranging from 10 to 49 percent on products imported from nearly every foreign nation and even certain others. uninhabited Antarctic islands , were described as “reciprocal” tariffs aimed at retaliating against the unjust trade obstacles set by other nations—but in truth, according to Cramer, Trump’s tariffs bear no resemblance to actual trade barriers.
"On digging into the figures today, I found them completely baffling," Cramer said to CNN's Erin Burnett during Thursday evening’s “OutFront.”
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“I simply stated, as you understand, when we’re dealing with figures such as $100 billion and only allowing each other to handle smaller portions like $10 billion; there were possibilities for making it function,” Cramer went on. “However, the values they presented included something absurd—a chart filled with complex equations! Can you believe it?”
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“It was simply incorrect,” stated Cramer. In conclusion, he mentioned, “Erin, what truly distressed me was how many times the president insisted, listen, this will be reciprocated. Therefore, when you act, we respond. He claimed it would be fantastic. I genuinely bought into it. Now, I feel rather foolish.”
“I’m not a proponent of free trade, and I don’t support the concept,” Cramer emphasized. “I was equally stern, perhaps even more so, compared to his team. However, they botched it, executing everything in an entirely misguided manner. This left me quite disappointed. Given my firm belief that free trade harms the average American worker, this outcome is disappointing. Come on, show some backbone. Use some logic.”
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