Jim Cramer Says Trump's Tariff Deal With EU Lands 'Dead Last' On Wall Street's Priority List: Here's What's Important
Jim Cramer said on Monday that President Donald Trump‘s major trade agreement with the European Union failed to spark significant market gains because investors are focused on more pressing concerns this week, including Big Tech earnings and Federal Reserve policy decisions.
What Happened: “Right now, we’re presuming these tariffs don’t matter,” CNBC’s Cramer said during Monday’s market analysis. “What matters is earnings, unemployment, the Fed meeting and — you know what — dead last, tariffs.”
Trump announced the U.S. reached a trade agreement with the EU to impose a 15% tariff on most European goods, lower than his previously threatened 30% rate. The deal includes the EU’s commitment to purchase $750 billion in U.S. energy over three years and invest another $600 billion in the U.S. economy.
Major indices showed mixed results on Monday. The S&P 500 gained 0.018% to close at 6,389.77, while the Nasdaq Composite rose 0.33% to 21,178.58. The Dow Jones Industrial Average declined 0.14% to 44,837.56.
Cramer attributed the muted market response to “tariff ennui” among Wall Street investors who have watched Trump’s trade negotiations follow a predictable pattern. The U.S. threatens high tariffs, then pulls back as trading partners offer concessions like energy purchases or investment commitments.
Why It Matters: The market has already recovered from post-election lows, making investors less responsive to trade announcements unless deals contain substantially different terms, Cramer noted. He also pointed to pending negotiations with China, Canada, and Mexico, suggesting months more of trade uncertainty.
Big Tech earnings dominate investor attention this week. Apple Inc. (NASDAQ:AAPL), Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc. (NASDAQ:META), and Amazon.com Inc. (NASDAQ:AMZN) are scheduled to report quarterly results.
The Federal Reserve’s Wednesday meeting and Friday’s employment data release also overshadow trade news. Fed Chair Jerome Powell faces escalating criticism from Trump over interest rate policy, with the central bank expected to hold rates steady despite presidential pressure for cuts.
“This week is a beast of its own and nobody on Wall Street is going to care about trade policy until the week is over,” Cramer said.
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