The post Commerce Secretary Lutnick’s optimism on tariffs might be misplaced: No deal is coming – Jim Cramer appeared on BitcoinEthereumNews.com.

According to Howard Lutnick, the commerce secretary, tariffs are meant to threaten other nations in order for them to be fair to the US. However, other nations do not feel threatened; instead, they are ready to fight back. Jim Cramer, commonly known as ‘inverse Jim Cramer—the market prophet’, says there is no deal coming. If you’ve been involved in trading, whether it’s crypto or stocks, you’ve probably heard of Jim Cramer. The money market commentator nearly never gets things wrong. What is his manner of approach? When he says something, he means the opposite.  This is what he said,“My takeaway on auto tariff issue-I think that Commerce Secretary Lutnick’s optimism might be misplaced. I do not see a deal on the horizon.” What he means is there has to be a deal. The markets have been crashing so hard. It sure is hurting Trump, the businessman’s ego. Reports are already out that the markets have erased the bully rally that he caused after his victory. Also, the nations on the receiving end—China, Mexico, and Canada—are ready to fight back.  Has America escaped the wrath of its tariffs? No. This can only mean one thing: There has to be a middle ground. The auto tariff issue – who is it affecting? The president said that auto tariffs would go into effect on April 2. He has been using tariffs as a key tool to reduce America’s trade imbalance, boost domestic manufacturing, and reach other policy goals, such as stopping the flow of drugs and illegal immigrants. This would mean trouble for Mexico, Canada and Japan.  General Motors made 889,072 light cars in Mexico in 2024, which is 22.3% of the nearly 4 million vehicles made that year. Stellantis had the third most, 419,426, and Ford was right behind it with 386,446. …

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Filed under: News - @ March 5, 2025 5:28 pm