Trade war between US and China 'bad for the whole world', says Buffett

Buffett's conglomerate Berkshire Hathaway Inc owns or invests in many companies that do business in China, including Apple Inc, in which it has a more than $50-billion stake

Warren Buffett said on Monday that a trade war between the United States and China would be "bad for the whole world."

Buffett spoke after US President Donald Trump tweeted on Sunday that he will raise tariffs on $200 billion of Chinese imports to 25 per cent from 10 per cent beginning on Friday, and "shortly" slap a 25-per cent tariff on $325 billion of Chinese goods that have not been taxed.

Major stock markets fell worldwide on Monday in response to the president's tweet, which came ahead of scheduled trade talks this week, and was a "rational" response, Buffett said on