Get ready to pull the trigger on these stocks — 'We're almost in oversold territory': Cramer
. The stock dropped 5.8% during the session.
"Either way, you don't need to worry about agriculture as it's the most heavily subsidized industry in America," Cramer said. "We treat our farmers like China treats its manufacturers — we prop them up and protect them against foreign competition." "Our manufacturing base for that stuff was wiped out ages ago. China in particularly already destroyed the American glove industry," he said.The thing is, most investors don't seem to realize that our trade war with China doesn't have much in common with past trade wars, " he said. "Why? Because we simply don't sell that much stuff to the Chinese. Why? 'Cause they won't let us.
But Trump has more ammo in the escalating trade war. He is considering slapping another 25% tariff on $300 billion worth of additional Chinese goods. Cramer expects Trump to put additional duties on the books within the next six months and force companies to pay for doing business in China.
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