The executive action against Chinese telecommunications giant Huawei 'was a major escalation from the White House,' Jim Cramer says.
, who finished another day in the red. Earlier this week, their shares rallied off good quarterly reports but fell after revealing their exposure to China.
Cisco CEO Chuck Robbins told shareholders that they see minimal impact from tariffs on Chinese imports after preparing for the worse six months ago and shifting sourcing out of the country.if Trump goes through with his promises to slap another 25% tariff on $300 billion, on top of the existing $200 billion, worth of Chinese imports.
Luckily the department behemoth doesn't ship food from the country, meaning their grocery prices can stay low, Cramer said.
"Here's how I see it: President Trump is now in charge. He's in charge of which American companies can do business in China. If you do too much, he'll smite you. If you buy too much, he'll find you. If you rely on them too much, he'll crush you," Cramer said. "The companies that didn't see this escalation coming, they may get stream-rolled, but the ones that thought ahead are being re-rated to more exalted status ...
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