Legendary investor Warren Buffett may be known for his talent to recognize the risks and anticipate the turmoil, but he was not right about one thing. Last year he claimed that there would be no trade war between the US and China.
"I do not think any of the two sides will take serious action in triggering a trade war." - Buffett's statement in his annual statement to Berkshire Hathaway's investors in 2018.
Although he had successfully foreseen some misunderstandings between the two countries, he claimed that it was hardly "two intelligent states" to "go into something so stupid."
Since the time of his comments, the two countries have gone a long way, have suffered the severe consequences of the war and have done serious damage to the world economy. Just a few days ago, the situation has escalated since the negotiations have failed, and the US has imposed additional tariffs on Chinese goods. China's response was not delayed.
Source: Business Insider
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