President Donald Trump has revealed that American companies who defile his rules and do business with China will be impacted by his tariffs, CNBC’s Jim Cramer said Tuesday.
“I think the president is saying, ‘Hey, listen guys, you are not going to make as much money in China as you used to. That game is over,'” Cramer told “Squawk on the Street.”
The trade conflict between China and America heightened after the Trump administration announced it will impose 10 percent tariffs on another $200 billion worth of Chinese imports.
Those duties will rise to 25 percent at the end of the year.
Reuters reported Tuesday morning that in response China said it will institute tariffs on U.S. goods worth $60 billion on Sept. 24.
China is reviewing plans to send a delegation to Washington for trade talks, the South China Morning Post reported on Tuesday, citing a government source in Beijing.
“The president is not sensitive to the companies that make a lot of money in China from our country,” Cramer said. “They are the ones that we sacrificed.”
The Apple Watch and various other consumer gadgets are being exempted from this newest round.
However, some Apple products will still be affected.