Cramer: Trump no longer cares if his China policies hurt American businesses
S E E D E D C O N T E N T
- "Huawei has the best technology for the 5G wireless infrastructure build-out, but without components from American suppliers, that technology just doesn't work. They're gonna get beat," CNBC's Jim Cramer says.
- "It could be the end for Huawei's 5G leadership," the "Mad Money" host says.
President Donald Trump has practically "blacklisted" Chinese telecommunications giant Huawei and made it crystal clear that he does not want American companies doing business with the country, CNBC's Jim Cramer said Thursday.
That tanked the shares of a group of chipmakers — Qualcomm QCOM , Skyworks Solutions SWKS , Broadcom AVGO , Micron MU , and Xilinx XLNX — as much as 7.3%, he argued.
"Huawei has the best technology for the 5G wireless infrastructure build-out, but without components from American suppliers, that technology just doesn't work. They're gonna get beat," the "Mad Money" host said. "It could be the end for Huawei's 5G leadership. That's a huge blow to this pioneering company that many in the industry actually feel is nothing but an arm of the [Chinese] Communist Party."
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On Wednesday, the Trump administration made a national emergency via executive order to regulate any business dealing with information or communications technology that "poses an unacceptable risk to the national security of the United States." The move bans American businesses from buying equipment from Huawei and requires a special license to sell components to the company, Cramer highlighted.
The semiconductor exchange-trade fund, which tracks chip stocks, slid 1.4%.
China reneged on previous agreements, thinking they might get a really good and one sided trade deals if the Democrats somehow elect a president. Since that is unlikely, China will probably come to the table in good faith before too long.
Right now they have a very unfair trade policy.
Previous administrations have kowtowed to the Chi-coms, but Trump isn't likely to.
"This was a major escalation from the White House. Trump did the same thing to a smaller Chinese company not that long ago, ZTE, although he quickly walked it back," Cramer said. "This one feels different ... It's clear the president no longer cares if his actions hurt major American businesses."
I can just see the Trump tweet now... "Huawei has the best technology, its a good thing Huawei is part of the United States, though still no proof Obama was born there...".
Trump no longer cares if his China policies hurt American businesses
Not that I normally would dispute something emanating from someone with greater knowledge than I on a subject, but I would propose to Mr. Cramer that Mr. Trump never cared if his policies hurt anyone or any thing.
That is any thing that does not have his name on it.
What if China were to retaliate by banning the provision of rare earth elements to the USA?
Telecom Companies Are Seriously Overhyping 5G Networks
The marketing gimmicks would be hilarious if they didn’t come with potentially major consequences.
Despite the fact that we’re years away from 5G’s nationwide commercial rollout—some analysts have predicted that we won’t see widespread deployment of strong 5G services in the U.S. until 2022 or 2023—and have yet to see any of these predictions come to fruition, telecommunications companies insist that the 5G revolution is already here, or just around the corner. This month brought a comical example when AT&T announced that it would begin offering what it misleadingly called “5G E,” which, in reality, is really only a slight upgrade to its current 4G LTE network. T-Mobile subsequently mocked AT&T by tweeting the message, “didn’t realize it was this easy, brb updating,” along with a video of someone putting a small piece of tape labeled “9G” over their smartphone’s network status bar icon. The backlash hasn’t deterred AT&T, which is still advertising that it’s “America’s best wireless network … now with 5G E.”
As former FCC Chairman Michael Powell recently said, expressing skepticism over wireless industry’s hype , “5G is 25 percent technology, 75 percent marketing.” Though Powell now represents and speaks on behalf of a major cable industry group, which has its own motivations for challenging the veracity of the wireless industry’s claims about 5G, his underlying point is well taken.
This kind of hype and overselling of an emerging technology, of course, isn’t unique. The prospect of new capabilities has always fueled excitement by enthusiasts who believe it will radically transform lives, and by those hoping to cash in. 5G may very well usher in profound changes in our technological capabilities. But the benefits are years from coming to fruition—and we shouldn’t let our eagerness to see those benefits cloud our judgment about what’s realistic and what will actually benefit those living in that future.
It's all about the money:
For one, there’s the issue of companies trying to encourage their customers to upgrade to new, 5G-enabled smartphones (the first of which are set to come out the first half of this year)—which could cost them $200 to $300 more than current 4G-era smartphones—before the new networks are up and running, before carriers have announced the terms or pricing for their forthcoming 5G wireless plans, and before we have a sense of just how good these new networks will actually be nationwide.
Jim Cramer is not the Best and the Brightest to listen too !
Could you please, please, please learn the proper usage of simple words like "to" and "too"? I have to re-read your posts every time...
True.
there they're their
your you're
too to two
site sight
rite right
... and many, many more...
If English is too (not "to") difficult, we could all learn Spanish. Or Mandarin.
knight of yore...
Spill Chickers, even though they know what one meant, just have this need to stand on a soap box to shout anything but what the conversation was ACTUALLY about !
Can you read and understand the following?
For emaxlpe, it deson’t mttaer in waht oredr the ltteers in a wrod aepapr, the olny iprmoatnt tihng is taht the frist and lsat ltteer are in the rghit pcale. The rset can be a toatl mses and you can sitll raed it wouthit pobelrm.
S1M1L4RLY, Y0UR M1ND 15 R34D1NG 7H15 4U70M471C4LLY W17H0U7 3V3N 7H1NK1NG 4B0U7 17.
When deciphering, the mind is concentrated, expecting complications.
When reading, the mind is on automatic pilot; speed bumps are unwelcome.
The point is that he got his message across. You KNEW what he meant--no matter how it was spelled or what particular words he used.
You read that without concentrating--you just read it like millions of others would. Nothing really to decipher.
It's juvenile, for one thing - and it makes me assume the content of the comments will be as bad as the format. It's difficult to presume intelligence when you see comments like that. I presume the opposite, actually.
No. I knew only after re-reading.
It's rude to require re-reading because one is too (not "to") lazy to learn basic English.
Precisely.
I feel exactly the same way.
it is also rude to correct others' grammar unless you are their teacher or parent.
Seriously?
Yes. Lots of people are taught those things by their parents, and some just learn on their own over a lifetime.
Some obviously never learn it.
Although, having been an English teacher for foreign students, I am always tempted to correct others' errors, but I don't because I only wish I could speak their language as well as they can speak mine.
My parents have been dead for a long time.
Is my grammar exempt from correction?
Good point.
Mistakes in a second language are understandable.
Even in one's first language, mistakes about difficult points are understandable. That was not my complaint.
IMNAAHO, sloppy mastery of ordinary language is not understandable, and not excusable. It is entirely within the writer's capabilities to write correctly.
Sloppy usage of ordinary language shows the writer's disdain for the reader.
It's not rude at all. [deleted]
What's rude is someone deliberately using poor grammar, excessive emojis and fonts, and weird punctuation. Just as typing in all caps is considered yelling - it appears to be a pathetic attempt to get attention when a person has nothing valid to say.
Yup
I was always surprised at how much support the retired newspaper editor on this site got for arguing an opposite position on the all caps, extra large font and excessive use of colored fonts.
Well, I certainly won't be the one to correct you on it.
It adds ZERO to the conversation and I think all adults understood what the point of the comment was--no matter the grammar or punctuation or spelling.
I had no idea that an extra "o" on a word would set off so many triggers. Perhaps it was a simple typo and not some nefarious plot to rile up members?
What is funny is that one poster here regularly and invariably posts using words incorrectly and no punctuation, or wrong punctuation, and I have NEVER seen one of you call him out. Now, his posts you HAVE to re-read to figure out what he is trying to (cleverly?) say, but I just gave up on it and ignore him.
I didn't actually call out this poster, either - I joined a conversation that was going on.
No matter who does it, it's incredibly annoying and detracts from the value of the person's comments. If everyone ignored those people, maybe that would be an incentive for them to stop being so rude.
"Trump no longer cares." Could have left it at that. As if he ever cared about anything except himself anyway.
He never has. All that matters to him, all that has ever mattered to him is what is good for him personally. That is it, everything and everyone else can go fuck themselves as long as he comes out on top.
Seeder missing from Article for days. Current conversations are off topic and meta.
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