The Trump administration a year ago began sending American businesses a clear-cut message to get out of China, CNBC's Jim Cramer said Friday.
"Nearly everyone in the business community saw this coming. They've talked about it endlessly, and they've made a lot of the necessary adjustments," the "Mad Money" host said."You know who's been caught off guard? The pundits, and that's why the market could ultimately rally on what you would've expected ... to be a really ugly day."
Instead, Dollar General, which had a disappointing quarter, is about $5 per share off its all-time highs and up nearly 13% this year. Dollar Tree is up more than 15% this year and down $7 per share from its all-time highs, he pointed out. Dollar Tree CEO Gary Philbin explained to Cramer in a March interview that the company realized it needs to expand its sourcing beyond just China. The company is prepared to get its merchandise elsewhere, Cramer said.
Cramer also mentioned that Five Below, Emerson and United Technologies are all still performing well, despite the headwinds that management must mitigate in China. Procter & Gamble, Estee Lauder, Starbucks and Nike have also performed well, he continued.
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It is more failure by Trump.
Hey, remember when Cramer lied about the pending Bush Recession?
Yeah because they already have perfected passing the cost on to the consumer.
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