Wall Street needs to take Trump more seriously, Jim Cramer says

CNBC’s Jim Cramer unpacked President Donald Trump‘s actions over the past few days, and concluded that investors should heed his assertions because he is largely unchallenged in a number of arenas.

“People on Wall Street, they better start taking the President of the United States more seriously, or else you’re going to keep losing money,” he said. “You don’t have to like him, but I’m begging you, listen to his words.”

Cramer claimed that nothing Trump does is “idle,” pointing out the way he slapped 25% tariffs on imports from Mexico and Canada, as well 10% on goods from China. Although he later postponed the tariffs by a month for Mexico and Canada, Cramer said Trump was able to get Mexico to send more troops to the border to impede drug trafficking. According to Cramer, traders first panicked when Trump issued the tariff on China, but the market was able to recover when they started to realize he’s trying negotiate. He pointed to Tuesday gains in a number of Chinese stocks, including Baidu, PDD and Alibaba.

Investors also shouldn’t discount Trump’s efforts to create a sovereign wealth fund, he added. Cramer continued, saying that even though many condemned the president’s cabinet picks, in the end, Senate Republicans “caved” to his wishes.

Cramer praised the government’s system of checks and balances. But it seems Trump has very few checks for at least the next two years, he said, with a Republican majority in Congress as well as on the Supreme Court.

“You got to recognize that Congress won’t stop him, and aside from some explicitly unconstitutional executive orders, the courts won’t stop him, either,” Cramer said.

The White House did not immediately respond to request for comment.

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