On the floor of the New York Stock Exchange, Jim Cramer tells TheStreet's Katherine Ross that President Donald J. Trump and Elizabeth Warren, the Democratic candidate whose run for president promises to bring about "big, structural change," aren't all that different, at least where China is concerned.
Why does this matter? Cramer says Trump's stance on elites is key to understanding the unfolding trade war with China.
Within Trump's own Republican party, Cramer points out that there are two competing groups: the old-style elites (with the likes of Henry Kissinger, Steve Schwarzman and ex-Goldman Sachs (GS) leaders John Thornton and Hank Paulson) and the populists, with the likes of trade advisor Peter Navarro and Robert Lighthizer.
These two groups represent entirely different mentalities on the trade war, and it's yet to be seen where Trump will land.
President Trump "is not going to sacrifice the American worker" on China, said Cramer. And neither will Elizabeth Warren: "She's not going to sacrifice the American worker and nor will she sacrifice the environment on China," he added.
No matter who wins the White House, be it Trump or Warren, Cramer offers this warning: Unless the Chinese buy goods quickly, proving to Trump that a globalist strategy can still work, there will be no deals and higher tariffs one year from now. It's that simple.
For more on Cramer's take on trade and politics, watch the quick video above.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below