President Donald Trump Trump raised the idea of decoupling the U.S. and Chinese economies. He threatened to punish American companies that create jobs overseas and to prevent those that do business in China from winning federal contracts.
“We’ll manufacture our critical manufacturing supplies in the United States, we’ll create ‘made in America’ tax credits and bring our jobs back to the United States and we’ll impose tariffs on companies that desert America to create jobs in China and other countries,” Trump said Monday at a White House news conference.
However, U.S. companies don't seem so sure of this.
The American Chamber of Commerce in Shanghai released a survey on Wednesday discussing U.S. business in China.
"This year’s report shows that despite a rise in US-China tensions and a slowing economy in 2019, American businesses in China remained profitable, with 78.2% of companies reporting profits last year, marginally ahead of recent years. However, the global COVID-19 pandemic outbreak in early 2020 has impacted investment plans as well as profit expectations for the rest of the year," the study wrote.
So, what does Jim Cramer make of this news?
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