Why Jim Cramer Doesn't Think There'll Be a Definitive Trade Deal at G20
Don't bake in a trade deal just yet.
The U.S. and China may be meeting at the G20 summit to talk trade.
And, while some optimists think that the possibility of a trade deal may be on the table, Secretary of Commerce Wilbur Ross isn't so sure that President Trump and China's President Xi will walk out of the meeting with a definitive trade deal on the table.
Ross told CNBC that he doesn't believe that a definitive trade deal can be reached between the two countries at the summit.
Jim Cramer said that he also doesn't believe that there will be a definitive trade deal.
"I don't think they can do a definitive trade deal because the president is not a detailed person.
You know, [trade representative Robert] Lighthizer is the one that has the ability to be able to do a deal," said Cramer.
"And I think that [Secretary of the Treasury Steven] Mnuchin said this weekend, look, we had without a doubt a very good deal and they walked away from it.
So they've got to come back and do that deal.
I think the president can declare victory with Xi, the president doesn't want this market down.
You know, he's focused on the market now." More from Cramer Today Full Replay: Jim Cramer's Thoughts on the Trade Talks, Beyond Meat and FAANG Advice from Jim Cramer: Setting Up A Portfolio For Your Grandchildren