Here's What's On Jim Cramer's Mind
This Thursday, the U.S.-China trade war is on the top of Jim Cramer's mind.
On the floor of the NYSE, Cramer tells TheStreet's Katherine Ross that investors need to be wary of trusting China's statements on tariffs or trade agreements, and instead watch China's actions.
"Do not trust the Chinese.
Trust what they do, not what they say.
China has said the U.S. has agreed to roll back tariffs.
Don't believe that at all.
There has been no agreement whatsoever.
There will be no agreement until there's a way to be able to verify that the Chinese will play ball.
So, do not believe mainstream media when they talk about where we are with talks." In terms of actions, China recently sentenced fentanyl traffickers to prison, as part of a cooperation between U.S. and Chinese law-enforcement agencies.
This sentencing has been interpreted as a demonstration that China is serious about working with Washington.
"That's the signal that the White House has been looking for to start to get serious about talks," said Cramer.
Cramer also highlights that if trade talks are going well, investors should buy banks because bank companies like JPMorgan and Citi have a lot of growth opportunities in China.
As always, Cramer leaves investors with pertinent advice: "The most important thing is action." Watch the full video above for Cramer's take on China and the trade war.
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