Buffett says U.S., China will avoid acting 'extremely foolish' on trade

"The United States and China are going to be the two superpowers of the world, economically and in other ways, for a long, long, long time," Buffett said at Berkshire Hathaway Inc's annual shareholder meeting, and that any tensions should not jeopardize the win-win benefits from trade."It is just too big and too obvious ... that the benefits are huge and the world is dependent on it in a major way for its progress, that two intelligent countries (would) do something extremely foolish," he said.