Warren Buffett on trade war: 'The world will not do something stupid'

Key Points
  • Warren Buffett is optimistic the U.S. and China will avoid a serious trade conflict.
  • "It's counter to the interests of every country in the world. The world thrives on trade," Buffett tells CNBC.
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Buffett: Don't think we'll have trade wars of significance

Warren Buffett is optimistic the U.S. and China will avoid a serious trade conflict.

"The world will not do something stupid over time in trade," the chairman and CEO told CNBC's "Squawk Box " on Monday. "I don't think we will have trade wars ... of significance. ... It's counter to the interests of us. It's counter to the interests of China. It's counter to the interests of every country in the world. The world thrives on trade."

Buffett appeared from Omaha, where held a weekend of events around Saturday's annual meeting.

Buffett expressed a similar sentiment a couple of days ago.

"I don't think either country will dig themselves into something that precipitates and continues any kind of real trade war," he said at the shareholder meeting. "There will be some back and forth, but in the end I don't think we'll come out with a terrible answer on it."

— Buffett joins "Squawk Box" for three hours, 6 a.m. ET to 9 a.m. ET, with special guests Munger and Microsoft co-founder and philanthropist Bill Gates.

With Berkshire's 2018 annual meeting in the books, users can revisit the highlights in CNBC's Warren Buffett Archive, which houses searchable video from 25 full annual meetings, going back to 1994, synchronized to 2,600 pages of transcripts. The Warren Buffett Archive also includes 500 shorter-form videos arranged by topic, CNBC interviews, a Buffett Timeline, and a Berkshire Portfolio Tracker.