US-China trade flap has more losers vs. winners: Bill Gates
Microsoft co-founder Bill Gates said on Friday that the ongoing trade conflict between the U.S. and China doesn't benefit everyone.
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“You can't have a situation where the rhetoric against each other kind of escalates and the willingness to understand the other country gets tougher,” Gates said during an interview on “WSJ At Large With Gerry Baker.”
The U.S. and China have been involved in a tit-for-tat trade battle for months, forcing each country to slap tariffs on one another’s goods. The U.S. has also accused China of stealing intelluctual property, as the two nations strive to dominate the technology revolution.
The billionaire philanthropist, who has a net worth of $96 billion according to Forbes, said he is hopeful that the world's two largest economies can come to a trade truce that prevents a situation where only one side benefits.
“You get a very zero-sum mentality where a lot of the things we do together whether it's fight climate change, grow the economy, drive innovation, those are positive some type of things that we should do more of,” Gates said.