"All I can tell you is with Elon Musk's involvement in the new administration, it's very possible that we've indeed seen the high-water mark in our tensions with China," he said.
But Musk is a "wild card" in Trump's dealings with China, Cramer suggested, referencing a recent piece from the Financial Times.
Cramer unpacked recent market action after the U.S. announced a third export sanction on high-tech goods to China.
He named a few stocks that could benefit from a better trade relationship with China, including Apple , Nike , Starbucks , Lam Research , Applied Materials , Micron , Walt Disney and Lululemon .
"As we get closer to the change in Washington, I think we have to start thinking on a dual track" toward China, Cramer said.
Persons:
CNBC's Jim Cramer, Donald Trump's, Elon Musk, Elon Musk's, Richard, Nixon, Trump, Cramer, Walt Disney
Organizations:
Financial Times, U.S, Apple, Nike, Starbucks, Lam Research, Materials, Micron, Walt
Locations:
China, Shanghai, Washington