TXN - Biden's New Tariffs On Chinese Imports Are A 'Clear Giveaway' To These Two Tesla Rivals Jim Cramer Says: 'I Like This Policy' | Benzinga
CNBC host Jim Cramer has highlighted that the recent tariff hikes on Chinese imports, announced by President Joe Biden, will significantly benefit U.S. automakers, particularly Tesla Inc rivals Ford Motor Co. (NYSE:F) and General Motors Co. (NYSE:GM).
What Happened: Cramer, on his show “Mad Money,” emphasized that the new tariffs will protect American car companies from the threat of cheap Chinese electric vehicles, reported CNBC.
“Not only does this tariff protect American car companies from cheap Chinese electric vehicles, it also means that their regular vehicles — their regular cars and trucks and hybrids — will benefit, too,” Cramer said. “I like this policy, but even if you hate it, it’s a clear giveaway to Ford and GM, and you got to cash in on a giveaway when you get it.”
He noted that the U.S. auto industry had been concerned about the potential impact of low-cost Chinese vehicles. However, with the new tariffs, this threat has been significantly ...