Buffett speaks on trade with China and economy
Buffett speaking on 5/4/19 at shareholder meeting.
https://www.reuters.com/article/us-berkshire-buffett-cnbc-idUSKCN1SC100
MAY 6, 2019
Warren Buffett says U.S.-China trade war would be 'bad for the whole world'
Jonathan Stempel, Jennifer Ablan
Buffett spoke after U.S. President Donald Trump tweeted on Sunday that he will raise tariffs on $200 billion of Chinese imports to 25 percent from 10 percent beginning on Friday
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Trump also said he would soon slap a 25-percent tariff on $325 billion of Chinese goods that have not been taxed.
Major stock markets fell worldwide on Monday in response to the tweet, which preceded scheduled trade talks this week, and was a “rational” response, Buffett said on CNBC television.
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, and Chinese electric car maker BYD Co.
https://www.cnbc.com/2019/05/06/warren-buffett-rejects-socialism-calling-capitalism-a-miracle-for-us.html
Warren Buffett rejects socialism, calling capitalism ‘absolutely a miracle’ for the United States
PUBLISHED 27 MIN AGO
Matthew J. Belvedere
@MATT_BELVEDERE
Warren Buffett on Monday rejected the type of socialist ideas gaining favor on the far-left of the Democratic Party — delivering a full-throated endorsement of free market capitalism.
“If you look at what was here in 1776 and you look at what’s here now, this country has done an incredible job in terms of the deployment of resources and human ingenuity,” Buffett told CNBC’s Becky Quick, in an interview from Omaha, Nebraska — where Berkshire Hathaway held its annual shareholders meeting this weekend. “The idea of people unleashing their potential ... it’s absolutely a miracle.
Does that mean that every decision should be made by open market determinants? No, there’s need for regulation,” said Buffett, who supported Democrat Hillary Clinton in the 2016 presidential race. “Human ingenuity is incredible, and you want something that maximizes its use; and then curbs, on a few of the ideas that some of those people may have to sort of have it for all themselves.”
Sitting next to Buffett, Microsoft co-founder and philanthropist Bill Gates told CNBC Monday, “Some people think when you defend capitalism you’re defending the tax rates.” He said that is not the case. Gates and Buffett for years have called for higher taxes on wealthy individuals, like themselves, to fund social safety nets and pay down the country’s debt. They have also maintained the rich are being undertaxed compared to working American
