Jim Cramer explains why the health of the US market is not entirely dependent on a deal with China.
said Tuesday that the U.S.-China trade war will not lead the American economy into a significant decline in economic activity.host, who has generally been in favor of a tough trade policy with the economic powerhouse, says he is "more sanguine" about the ongoing tensions in efforts to force the Chinese government to make concessions on the trade front."We are not going into recession, people. We're not because the tariffs are not going to do that," Cramer said.
in July. The Chinese government has retaliated with tariffs of its own and by reducing the amount of crops it purchases from U.S. farmers. Tariff costs are often passed on to consumers via higher sticker prices on products. The major averages managed to recover more than 1% of its losses from the worst trading day of the year, but the host says there's more work to be done before the coast is clear. Thebounced back by more than 311 points the day after plunging almost 770.
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