CNBC’s Jim Cramer said Wednesday that “tariffs worked” as a means to prod China to agree to a “phase one” trade deal with the United States.
“I keep wondering when people are going to recognize that it is historic that tariffs did succeed,” Cramer said on “Squawk on the Street,” shortly before U.S. and Chinese officials were set to sign the initial trade agreement at the White House later in the morning.
“Tariffs were not supposed to work,” said Cramer, who has all along been a supporter of President Donald Trump’s hard-line approach toward China.
“The Chinese were supposed to be able to get around them. It didn’t happen,” the “Mad Money” host added. “The Chinese were kind of accepting that they had to get something in order to keep the American market.”