How Buffett and Munger Think About the Trade Tensions?

(May 5, 2018) At the 2018 #Berkshire Hathaway Annual Meeting, Warren #Buffett and Charlie #Munger were asked on their comments on the trade tariffs on the manufacturing business of #Berkshire Hathaway.

Warren #Buffett stated the fact that the cost of steel increased in the past few weeks, but Warren #Buffett does not think that the trade tensions between the United States and China will dig each other into something that precipitates and continue any kind of real trade war in this country.

Charlie #Munger, on the other hand, agreed with Trump that the price of steel has reached to conditions that were almost unbelievably adverse to the American steel industry. Charlie #Munger stated that “Donald Trump can be right on some of his tariff.

Warren #Buffett continued to add that trade is particularly difficult because the benefits of trade are basically not visible. For example, the consumers won’t know what they would be paying for the clothes they are wearing today if they’d had a rule they all had to be manufactured in the United States, or what they’d be paying for the television set, or whatever it may be.

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