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Investors should be wary when it comes to trusting China over President Donald Trump, CNBC’s Jim Cramer said Monday.
“I’m aghast we trust the People’s Republic of China more than we trust the White House,” Cramer said on “Squawk Box.” “The predominance of coverage this morning is that the president is lying. I’m not willing to say that he’s lying. We can doubt him, but in the end we’re doubting a guy that didn’t want the market to crash.”
Cramer was referring to Trump’s comments at the G-7 summit Monday in France, where he said Beijing is ready to reenter negotiations and begin serious talks.
“China called last night our top trade people and said ‘let’s get back to the table’ so we will be getting back to the table and I think they want to do something,” Trump told reporters.
At a later press event, Trump said he didn’t want to talk about phone calls, saying that talks between U.S. and Chinese trade officials have been taking place at the highest levels.
However, the editor-in-chief of the Global Times, a tabloid controlled by the Communist Party of China, tweeted that Trump was “exaggerating.”
Cramer warns investors believing China over Trump on trade dangerous
Cramer is 100% correct. The Communist Chinese are run by thugs. I may have reservations about Trump however I cannot trust the Chinese government/media.