‘Trade should not be a weapon’

OMAHA, Nebraska — Warren Buffett on Saturday criticized President Donald Trump’s hardline trade policy, without naming him directly, saying it’s a big mistake to slap punitive tariffs on the rest of the world. “Trade should not be a weapon,” Buffett said at Berkshire Hathaway ‘s annual shareholder meeting. “The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago, there’s nothing that anything like it.” “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done – I don’t think it’s right, and I don’t think it’s wise,” he added. Buffett’s comments, his most direct yet on tariffs, came after the White House’s rollout of the highest levies on imports in generations shocked the world last month, triggering extreme volatility on Wall Street. The president also announced a sudden 90-day pause on much of the increase, except for China, as the White House sought to make deals with countries. “I do think that the more prosperous the rest of the world becomes, it won’t be at the our expense, the more prosperous we’ll become, and the safer we’ll feel, and your children will feel someday,” Buffett said. Investors had been waiting to hear from the 94-year-old “Oracle of Omaha” for his guidance to navigate the uncertain macroenvironment as well as his assessment on the state of the economy. The trillion-dollar Berkshire’s vast array of insurance, transportation, energy, retail and other businesses, from Geico to Burlington Northern to Dairy Queen, leave Buffett uniquely qualified to comment on the current health of the American economy. The first-quarter GDP was just reported to have contracted for the first time since 2022. This is breaking news. Please check back for updates. Source: https://www.cnbc.com/2025/05/03/warren-buffett-knocks-tariffs-and-protectionism-trade-should-not-be-a-weapon.html