Billionaire investor Warren Buffett has warned the United States that its trade war will hurt America. During his annual shareholder meeting in Omaha on Saturday, Buffett urged Americans to focus on what they do best and let other countries excel in their own areas.
Buffett, 94, announced he would be stepping down as CEO of Berkshire Hathaway at the end of the year, with Greg Abel taking over. The billionaire also criticized President Trump’s trade policies, although he did not mention the president by name.
The comments came after a sharp drop in quarterly profit for Berkshire Hathaway, which cited uncertainty caused by the tariffs as a major factor. Many of the largest US companies have cut or withdrawn their financial forecasts for this year, citing the impact of the tariffs.
Buffett said that trade should not be used as a weapon and instead emphasized national security for the US and its citizens. “The more prosperous the rest of the world becomes…the more prosperous we’ll become,” he stated.
The billionaire’s comments were well-received by the crowd of thousands, who applauded his words on trade and economic growth. Buffett has been largely silent on trade this spring, but his statement is a rare voice of caution in a time of global uncertainty.
As one of the largest US companies with diverse businesses and investments, Berkshire Hathaway serves as a microcosm for the broader economy. With shares in Coca-Cola, Apple, American Express, and other major companies, Buffett’s influence on Wall Street extends far beyond his own company.
Source: https://www.npr.org/2025/05/03/nx-s1-5384958/warren-buffett-tariffs-trade-war-america-berkshire-hathaway-omaha