All eyes turned on Osaka, Japan this weekend as President Trump met with Chinese President Xi on the sidelines of the G-20 summit.
After weeks of trade-fueled market anxiety, Trump and Xi agreed to resume stalled trade talks between the U.S. and China. In the meantime, both pledged that no additional tariffs will be enacted by either nation.
In addition, Trump agreed to loosen restrictions on shipment to China's Huawei in exchange for China to by an undisclosed amount of American agricultural goods.
While TheStreet founder and ActionAlertsPLUS.com portfolio manager Jim Cramer is quick to acknowledge that Trump was the one to bring tariffs to the table in the first place, he said he did find certain aspects of the Trump-Xi meeting surprising, including Trump's willingness to sacrifice leadership in 5G.
So how would Cramer rate Trump's overall performance, and more importantly, what's the read through for the markets going forward?
"I'm a hard liner and I was surprised. If you like the stock market short term, it's very big. Longer term you would be wondering because if Huawei is indeed the 5G leader, that's not that great for America," he said.