Jim Cramer: What Late Night Talks Between the U.S. and China Mean for Trade

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Are we going to see a trade deal between the U.S. and China? 

China's Commerce Ministry said in a statement Tuesday it had made progress with its U.S. counterparts, including U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin, during a phone call late Monday and agreed to work toward implementation of the so-called phase one agreement.

The positive tone from Beijing followed a weekend move by China to overhaul its legislation on intellectual property protection, which many analysts have said suggests a willingness to reach an acceptable agreement with the United States ahead of planned tariffs on $160 billion in China-made goods, which are set to kick in on Dec. 15.

Jim Cramer said that the light night phone call made by Lighthizer and Mnuchin made him think that "there's movement.".

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