Jim Cramer warns new Trump prices would be “horrible for the economy”

“Speaking like someone who is not a fan of free trade, I must be honest here: a tariff of 20% through almost all imports, it would be horrible for the economy,” said Jim Cramer on his CNBC show tonight.

Cramer referred to a report by the Wall Street Journal which predicted that the promised price package of Trump on April 2 would include “a potential global rate of 20% on almost all imports”.

THE Crazy money The host then invoked the ghost of the Smoot-Hawley Tariff Act of 1930, widely considered as a major factor contributing to the great depression.

“The universal coverage rate is a disaster for the consumer. Google,” he said.

Cramer said that the train for which Trump is trying to put tracks that had already left the station a long time ago.

“The truth is that the jobs that were supposed to be protected by prices were automated a long time ago … We no longer have the ability to do this kind of thing. If you want to buy Americans to avoid prices, you will pay by the nose to do it.”

Despite the appointment, it was a relatively moderate performance for the usually animated crammer who, after all, threw yesterday which could be the worst insult for Trump: Cramer compared him to Jimmy Carter.