Jim Cramer: Trump's Trade Fight Is Just Beginning

The end of the quarter as we know it. A quarter that started off with a whimper and then whimpered other than some techs and the small caps based here punctuated by days like today....

Now, if you believe that you've seen us fighting back hard against pretty much everyone on trade, you ain't seen nothing yet. Trump's fixated on autos, on steel and aluminum, on tech and on intellectual property. He made it clear today that big tariffs are coming for autos and I believe that will include foreign autos that are made in Mexico. He believes he has seen remarkable job creation in steel and aluminum. I think he is about to ban any acquisitions whatsoever by the Chinese in order to preserve our tech companies and not have them used against us. And intellectual property? I think he's going to demand that the Chinese stop the process of demanding joint ventures if they want U.S. companies to come there and hire.

You must prepare yourself to tweets harping on these issues. You must expect that there can be no rapprochement, no truce, because I understand that the president believes that with our low unemployment if we are ever going to revise how we trade, we must do it now. You should expect NAFTA to be ripped up. You must dismiss the notion that there are two camps - a hard line and a soft line. That's not the case. There's just hard liners.

If you can handle all of this, if you don't mind what it could mean, then you will be able to handle the vicissitudes of the next quarter. If you can't and you think that these issues are going to take a long time then you should raise cash next week. Don't fight me. Raise it.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.