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Why Jim Cramer Doesn't Think the Chinese Want a Phase One Trade Deal With U.S.

Credit: The Street
Published on December 2, 2019 - Duration: 00:34s

Why Jim Cramer Doesn't Think the Chinese Want a Phase One Trade Deal With U.S.

On Monday, President Donald Trump said that China still wants to make a deal on trade, "but we'll see what happens." The president's comments followed an article in China's Global Times that suggested senior officials in Beijing were demanding the rollback of both existing and pending tariffs on China-made goods by the U.S. in order to complete the so-called phase one agreement.

The U.S. had previously said that it would consider taking the Dec.

15 tariffs off the table.

However, in order to secure a phase one deal, the U.S. would have to completely rollback tariffs, according to the Global Times piece.

When asked whether or not we should expect to see a headline about the tariffs this week, Jim Cramer said that if the article is accurate, then "the Chinese don't want a deal." He added, "I think they're misreading the impeachment hearings.

Watch the full video above for more.

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