Cramer Shrugs at Trump’s Trade Triumph: Why Wall Street Isn’t Buying the Hype

President Trump might be talking tough and cutting deals, but Wall Street’s not exactly popping champagne corks. CNBC’s Jim Cramer says it loud and clear: Tariffs? Yawn. Investors are more concerned with earnings, jobs data, and the Fed—not political fireworks.

📉 No Rally for the Donald
Despite Trump’s announcement of a new U.S.-EU trade agreement, which lowered proposed tariffs from 30% to 15% on European goods, the market barely blinked:
-S&P 500: Up a measly 0.02%
-Dow Jones: Down 0.14%
-Nasdaq: Up 0.33%

Trump boasted the EU would also buy $750B in U.S. energy and invest $600B in American industries. But Cramer says none of that matters this week—not with Big Tech earnings and a pivotal Fed meeting on deck.

😴 “Tariff Ennui” Has Set In
Cramer coined it perfectly: “tariff ennui.” The market’s seen this movie before—big threats, dramatic announcements, followed by scaled-back compromises:

“The U.S. threatens a high tariff, then pulls back when the other side throws in a sweetener like a natural gas buy,” Cramer said.

At this point, investors are tuning out unless the trade deal is dramatically different from the last dozen.

💼 Bigger Things to Worry About
Forget tariffs—the street is laser-focused on:
-Big Tech Earnings from Apple, Microsoft, Meta, and Amazon
-The Fed’s Wednesday meeting, where no rate cut is expected
-Friday’s jobs data, which could influence interest rate sentiment

Cramer believes Trump’s pressure on Fed Chair Jerome Powell won’t change the fact that inflation remains sticky. That means no rate cut—at least not yet. And the Fed isn’t likely to bow to presidential tweets.

📉 Presidential Hectoring Incoming
Cramer warns that Trump is likely to go on the offensive if the labor report doesn’t meet expectations—even though the Fed is expected to hold its ground:

“We’re going to see a level of presidential hectoring that will be painful for the markets,” he said.

Whether the jobs report is strong or weak, Cramer suspects Trump will demand a rate cut either way.

🎤 Final Word: Trade Deals Aren’t Moving the Needle
As Cramer put it bluntly:

“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.”

​In other words, unless Trump’s next deal comes wrapped in a rocket ship or bundled with Apple’s earnings, don’t expect the markets to cheer. The Fed, jobs, and tech are the real headliners—and trade deals are just background noise.