US, China will not be at odds on trade, says Warren Buffett

Trump administration has drawn a hard line in trade talks with China, demanding a $200-billion cut in the Chinese trade surplus with the US

Billionaire Warren Buffett on Saturday said it was not likely that the US and China would come to loggerheads on trade, saying the two countries would avoid doing “something extremely foolish”. “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 at Berkshire Hathaway Inc’s annual shareholders’ meeting in Omaha, Nebraska.

“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,” Buffett