Cramer: Cool the 'hysteria' over Chinese tariffs
The potential for Chinese tariffs on US agriculture products has some growers upset.
That’s especially true of soybean growers, because China is a very big customer.
China would impose those tariffs because the US is imposing tariffs on some Chinese goods, to try and chop into the US trade deficit with China.
Rep. Kevin Cramer (R-ND), the GOP candidate for US Senate, said he thinks the hysteria needs to be ratcheted back.
"There are people, particularly Democrats, who want to pour fuel on the fire of hysteria," Cramer said. "That's neither helpful to the markets or helpful to the farmers. And it's certainly not helpful to the country."
Cramer said if you want to blame someone for this escalating trade dispute – blame China. And he also said last week, there was a bit of positive news for soybean growers.
"New crop soybeans were about 45 to 50 cents higher than they were in November," Cramer said. "I don't hear a lot of people giving credit to President Trump for a 50-cent increase in soybeans. Yet they're jumping on his for a 10 cent drop."
Cramer said unwinding decades of cheating in a trade relationship with a Communist country willl require some time.
"Markets are volatile, and markets are emotional," Cramer said. "But markets generally will re-calibrate to what a willing buyer will pay for a product to a willing seller."
Cramer said he would have preferred a more measure approach to trade with China. But he says he’s been assured by Administration officials that they will do what they can to minimize any harm to the agriculture community.