CNBC anchor Jim Cramer reiterated his support for President Trump’s tariffs and sharply criticized free trade policies on Thursday, doubling down on his longstanding opposition to agreements that have enjoyed decades of support from American business and financial leaders.
“I am pro-tariff, absolutely. I hate free trade,” Cramer said during an appearance on CNBC’s “Squawk on the Street” on Thursday.
He added: “I think it’s been an embarrassment for our country. It’s cost us fortunes. Everybody picks on us. There’s just no end to it.”
Cramer’s pointed remarks follow Trump’s announcement on Wednesday that he intends to impose a 25% tariff on imported automobiles and specific auto parts.
Next week, the president is also anticipated to introduce additional tariffs, labeled as “reciprocal tariffs,” which are expected to be somewhat milder than previously anticipated.
Since his return to the White House in January, Trump has already increased tariffs significantly on imports from China, Mexico, and Canada.
Trump has enacted tariffs as he pledged he would do during the presidential campaign.
But Wall Street has reacted negatively to the president’s unpredictable and shifting trade strategy, which has created unease within both business sectors and among consumers.
This uncertainty has significantly contributed to stock market volatility, with sharp sell-offs occurring in recent weeks due to concerns surrounding the economy and international trade.
Nevertheless, the S&P 500 index has somewhat recovered from its lows earlier this month and showed modest gains during Thursday’s trading session.
Cramer has long voiced skepticism about free trade, openly supporting Trump’s earlier tariff policies aimed at China — a stance he maintained since Trump’s successful run for president in 2016.
In late 2019, Cramer remarked: “If we’re going to trade jobs for cheap stuff, at the very least we should get a good exchange rate.”
However, Cramer has also expressed reservations regarding certain elements of Trump’s current trade policies, particularly highlighting the damage that uncertainty about tariffs has inflicted on stock markets.
Cramer recently suggested in a column for CNBC Investing Club members that tariffs might be more effective if they were applied in a targeted, strategic manner rather than broadly imposed.
Reflecting further during his CNBC segment Thursday, Cramer acknowledged his personal gain from globalization, noting his past experiences at Goldman Sachs and as a hedge fund manager before transitioning into financial media.
“I am a big winner from it,” he admitted.
Despite these personal benefits, Cramer emphasized that globalization has contributed significantly to the erosion of manufacturing employment across America.
“We favor cheap stuff in this country, but at a certain point, we also wrecked our small towns, and that’s what I’m focused on,” he explained.
Following his on-air commentary, Cramer further expanded upon his stance via a post on the social media platform X, providing additional context on why he holds such strong views against free trade agreements.
“Free trade wiped out my father’s business… not easily forgotten and a pre-date of President Trump’s view,” Cramer wrote on his X account.
