Jim Cramer on Intel (INTC): Is the Chips Act Enough to Save It? [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
During the latest episode of Mad Money , Jim Cramer focused on the recent market volatility and the reasons behind it. He explained that the reason behind this volatility is the escalating trade war with Canada. Here's how he explained the situation: “We got a trade war going with Canada. Here's what happened, they announced a 25% tariff on electricity in our country earlier today. Immediately president Trump announced some hard retaliation doubling the tariffs on aluminum and steel. The steel side can be dealt with. Aluminum, I don't know but it's bad news. Canadians produce a huge percentage of that stuff for our airline makers, for trucks, for cars. A 50% tariff would be very inflationary and could destroy the profits of the automakers.” Cramer's recent opinion is that the U.S. is no longer a manufacturing-driven economy, but a service-driven one, where businesses thrive on stability and consumer confidence. Here's how he explained it: “Now we're not a manufacturing economy,
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