Jim Cramer has apparently never been a fan of free trade. But even he says what the Trump administration just did with tariffs doesn’t add up.
Speaking with CNN’s Erin Burnett, the CNBC anchor said he supported President Donald Trump’s idea of reciprocal tariffs—but what the administration delivered, he argued, was a mess.
“I feel like a sucker tonight,” Cramer said. “I am not a free trader and I do not believe in free trade. And I was just as tough, if not tougher, than his people. But they screwed it up and they really made it a totally ill-advised way.”
Support Turned to Frustration
Cramer explained that he backed Trump’s plan because it promised fairness. “If you are charging us 20%, we charge you 20,” he said. Instead, he found that the tariffs weren’t reciprocal at all. “I went deep on the numbers today. And the numbers do not make any sense.”
He also criticized the administration for presenting what he called a “ridiculous” chart with faulty math. “Are you kidding me? It was just wrong.”
Workers Left Behind—Again
Cramer’s issue isn’t with tariffs themselves, but with the missed opportunity to do them right. “I thought they were going to do something. And what did they do? They cratered the damn stock market and gave us nothing.”
He emphasized that the current policy fails the very people it was supposed to help.
“They made a bargain with the devil. They decided to get rid of the American working person’s good job with a good pension and sacrifices, so we could get cheap goods.”
Countries like Vietnam and Israel even lowered their tariffs, Cramer noted, yet were still slapped with higher rates under the plan. “It was such a shame because they missed the opportunity. Now they have to pay the price.”
Not 2007, But Still Serious
Cramer says this isn’t a financial collapse like 2007, when he famously shouted that the Federal Reserve was “asleep.” But he still sees damage. “This is a man-made issue that can be corrected through some thought,” he said.
Still, he sees hope. “The economy’s stronger. Unemployment is very, very low still. We still have a fantastic Fed chief in Jay Powell.”
In short, Cramer says he stood behind the vision, but the execution made him feel burned. “This is what they came up with? Geez, come on, have some gumption. Have some math.”
Whether the administration adjusts course or not, he made one thing known: “I always felt that was horrendous… A president comes along, is going to do something about it, and this is what he does?”
IMAGE CREDIT: “Donald Trump” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.