Jim Cramer has some thoughts on President Trump's comments to CNBC about the phase two trade deal.
"And yes, we’re starting phase two very soon. But the relationship that we have now with China is probably better than it’s ever been. The relationship I have with President Xi, president for life. Okay? It’s not bad. But the relationship I have with President Xi is, you know, I think extraordinary, considering he’s for China, I’m for us," President Trump told CNBC's Joe Kernen earlier Wednesday morning at Davos.
And Cramer says that investors need to cool their jets when wondering when the U.S. and China will sit down for phase two.
"Well, first you won the Superbowl, so let's not talk about next year's Super Bowl. I think phase two is a set up by the mainstream media...The phase one was really great. There are so many lies told about this trade deal that it tells me that the 110 pages weren't read by anybody. When I read through the 110 pages, what I saw was line item, line item, line item that is going to be very difficult for the Chinese to get out of. And then there's that statement, the mainstream media says that, remember, China hasn't even changed the tariffs yet. Well, they can change the tariffs. It's a command economy. So, the idea that somehow China got the best of Trump is fatuous. Love him or hate him. It was a big win. There wasn't supposed to be a deal even," said Cramer.
Watch the full video above for more.