Hey, I'm Kramer.

Welcome to the money.

Welcome to Kramer.

I've been to my friends.

Geez, I'm just trying to save a little bit of money here.

My job is not just to entertain but educate, put in context.

So call me at 1-800-7.4-3, CNBC, or tweet me at Jim Kramer.

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 U.S. last year.

Today, President Trump did precisely that, which would be a 25% price increase on about

one-sixth of the U.S. auto market.

And that's on top of the existing tariffs on everything from Japan and South Korea.

Now, that's big enough to cost of inflation, which is a major reason why the average is rolled

over today.

Dow tumbling 4 in 22 points,

S&P falling 0.79%, and then out of that losing 0.92%. That's a significant pullback. But you know what?

A few months ago, I would have expected a much bigger decline in the stock market on this news.

Keep in mind, we have a big persistent trade deficit with both Japan and South Korea.

You tackle on a big tariff on imports from those countries,

and suddenly about 17% of vehicles made there and sold here are priced out of the market.

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