I would have expected a bigger decline on the tariff news, says Jim Cramer

Tariffs do matter. They raise prices almost immediately. If you slap a 25% tariff on all the cars and trucks we import from Korea and Japan, you're talking about roughly 17% of the vehicles sold in the US last year.Today, President Trump did precisely that, which would be a 25% price increase on about 16 of the US auto market. And that's on top of the existing tariffs on everything from Japan and South Korea. Now that's big enough to cause some inflation which is a major reason why the averages rolled over ...