CNBC’s Jim Cramer Bashes the Trump Administration for ‘Vast Confusion’ Surrounding Tariffs: ‘The Lack of Any Thought’ Here Is ‘Stunning!’
CNBC’s Jim Cramer slammed President Donald Trump’s administration over the “vast confusion” surrounding the newly implemented tariffs on goods from Canada and Mexico.
In a scathing open to CNBC’s Squawk on the Street Tuesday, Cramer lashed out at the lack of details about the 25 percent tariffs on goods from Canada and Mexico.
“There’s just vast confusion,” Cramer said. “No one knows. I mean, the automakers don’t know what this is going to mean. The packaged goods companies don’t know mean when it comes from another country. There’s no clarity whatsoever. Anyone who thinks that there’s clarity is just completely wrong.”
Cramer added, “It isn’t like they’ve said, ‘OK, look, here’s the schedule, here’s the tariff.’ Like, if you were in Europe and they did Brexit, you got the schedule, you got the tariff, and said, ‘OK, I owe this.’ They haven’t given us anything.!We don’t know what we owe, amd what we don’t owe. We don’t know where it’s paid. We don’t know if it isn’t paid. Do we owe them to who owes it? Does a buyer [owe it]? I mean, the lack of of any thought about this … is stunning! This is a huge amount of money involved.”
The CNBC analyst pointed out the specific example of Modelo Beer — which is currently the top-selling beer in the United States.
“If Modelo Especial gets hit by 25 percent tariff, people aren’t going to drink it,” Cramer said. “It’s too expensive.”
Cramer followed up that point by doubling back to his original argument — that companies have no idea how the tariffs will work.
“I’m sure right now Constellation Brands, [the parent company of] Modelo, is saying, do we pay?” Cramer said. “Do we get Total Wine and More to pay? Does the customer pay? Do we pay at the border? … We don’t know! It is such a show that it is extraordinary to me that this is America. We don’t have any plan! I mean, we need a plan!”
Watch above via CNBC.