OMAHA, Neb. (AP) — Warren Buffett says it’s hard to know how a trade war between China and the United States would affect the economy if President Donald Trump follows through on his latest tariff threat because so many other countries are affected.
Buffett appeared on CNBC Monday after holding his annual Berkshire Hathaway shareholders meeting over the weekend.
Trump said over the weekend that he may impose 25 percent tariffs on more Chinese imports, and financial markets began to plunge. The Dow is down 500 points.
Buffett says Trump is making a “nuclear threat” that may bring the Chinese to the table. But it’s impossible to predict the outcome because both countries’ leaders are used to getting their way.