Billionaire Warren Buffett downplays chances of China-US trade war
‘We both (US and China) may do things that are mildly foolish from time to time. There is some give and take’
Billionaire Warren Buffett said it is not likely that the United States and China would come to loggerheads on trade, saying the two countries would avoid doing “something extremely foolish”.
Buffett, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese investor’s question about US-China trade relations at the Berkshire Hathaway’s annual shareholders meeting.
“The United States and China are going to be the two super-powers of the world, economically and in other ways, for a long, long, long time,” Buffett said in Omaha, Nebraska Saturday.
“We have a lot of common interests and like any two big economic entities, there are times when they’ll be tensions, but it is a win-win situation when the world trades.
“We will have disagreements with each other (both Democrats and Republicans) and we’ll have disagreements with other countries on trade,” Buffett said about a trade war.
“It is just too big and too obvious for that the benefits are huge and the world is dependent on it in a major way for its progress that two intelligent countries will do something extremely foolish,” he said. “We both (US and China) may do things that are mildly foolish from time to time. There is some give and take.”