CNBC's Jim Cramer decimated the argument against the Trump Tariff: China creates BS fake steel jobs subsidizing the steel & taking losses on it

Early Friday morning the "Squawk on the Street" crew talks about President Trump's tariff on steel and aluminum imports. Jim Cramer points out the massive oversupply from China and how the US has lost 300,000 steel jobs because of them.

Later on Mad Money Jim said we've been losing the trade war for years. The bear case on the Trump Tariff is way too extreme, bordering on hysterical, and will calm down.

Cramer said - take a deep breath and look at real numbers. China creates fake jobs in steel mills...subsidizing the steel and taking a loss - killing the USA's ability to compete with that government backed bullshit.

And do you want Chinese friggin' made in China steel in our airplanes and tanks? NO WAY, JOSE...

Finally, Jim looked ahead to the stocks and events of import next week and tells investors there's more to stocks than just the Trump tariffs.


In a related note, PA's Zekelman Industries will give employees $1000 bonuses once Trump Tariffs go into effect!

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