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Bill Gates hopes Trump won't get into a tariff 'tit for tat' with China

Billionaire Bill Gates told CNBC on Tuesday that a deterioration in trade relations with China would not be a good deal, but he does not see President-elect Donald Trump engaging in a trade war.

"I feel sure that he and the team he brings in around them, even as they tune things, they won't want the 'lose-lose' that you would get if you start to get large tariff walls," the Microsoft co-founder said on "Squawk Box."

"The president-elect is very sophisticated. I hope he's thought through how he's going to get some adjustment there [in China] without that typical sort of tariff tit for tat."

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