Cramer: American companies in trouble again

CNBC's Jim Cramer said Thursday that American companies may be facing strong currency headwinds once again after Mario Draghi's remarks sent the euro plunging.

"They're crushing the euro; the dollar is soaring. This is a level at which American exporters are saying 'Are you kidding me?'" Cramer said on "Squawk on the Street."

The European Central Bank's president said in a news conference that the bank will extend its quantitative easing program if needed, adding that it has downgraded its inflation forecast from 1.5 percent in June to 1.1 percent.

Read More ECB's Draghi pledges more QE if needed

The euro hit a session low of $1.1107 on Draghi's remarks and was about 0.7 percent lower against the dollar in morning New York trade.

Euro-dollar intraday

"And if the Chinese devalue again, and I think that they may, the dollar will go back into that super strong mode," Cramer added.