Fentanyl could trace a trade agreement between the United States and China
The Fentanyl problems can trace the prospects of a US-China trade partnership if the Chinese government does not settle on the highly addictive pain-reliever in good faith, said CN Cracker Jim Cramer on Monday.
" We can finally get a trade agreement, but it will not be fast, it will not be easy and you should certainly not buy stocks just because you think one we
The world's two largest economies are far from reaching an agreement partly because China has not stopped the inflow of fentanyl, a synthetic opioid, in the United States said Cramer. It has contributed to the ongoing opioid epidemic in America which led to 1[ads1]8,000 deaths last year, he noted.
The People's Republic of China followed on Monday through a pledge, but short of immediacy, made in December to disclose the substance as a controlled substance. The new rule comes into force on 1 May. [1 9659003] Cramer said he did not see this as a victory for President Donald Trump, who has invoked his counterpart to hold fentanyl "distributors and pushers" responsible after the death penalty. However, the Chinese have accused the United States of its abuse.
"There was no serious pressure from the Communist Party [of China] to stop this. Every time China's banned some kind of fentanyl, its producers just change their formula slightly to something that's now legal," Cramer said. "This new ban will change all this, but given China's record of maintaining international agreements, I consider myself skeptical."
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