Jim Cramer Says U.S. Companies Are Moving Out of China
President Donald Trump has said that the U.S.-China relationship is "severely damaged" due to the coronavirus pandemic.
"[China] could have stopped the plague. They could have stopped it. They didn't stop it," President Trump said on Air Force One over the weekend per reporters present.
Trump added that he wasn't even thinking about the phase two trade deal with China.
Back in May, Trump noted that he was "torn" about whether or not to scrap the first phase of the trade deal with Beijing. However, officials within the Trump Administration have said that both countries are still expected to honor the deal.
Jim Cramer, when asked how investors should approach the rising tensions, said, "When you look at Apple moving out of China pretty aggressively and going to India...You realize that China, they can have all of the cards given that they beat COVID so severely, but we're moving out of China. Companies are listening to [President Trump] and they're saying, 'look, I'm not going to be held hostage. And as they move out, China loses its leverage."
Watch the full video above for more.