Buffett Critiques U.S. Tariff Policy Amid Berkshire Losses

Warren Buffett, speaking at Berkshire Hathaway’s annual shareholder meeting, strongly criticized the use of tariffs as an economic weapon, specifically targeting the protectionist trade policies advocated by former President Donald Trump. Buffett warned that such measures could harm global commerce, destabilize markets, and ultimately backfire on the U.S. both economically and politically. He emphasized that balanced and cooperative international trade benefits American prosperity, arguing that a thriving global economy is in the best interest of the U.S. Buffett's remarks were delivered amid heightened market volatility linked to recent U.S. tariffs and as Berkshire Hathaway reported a significant drop in first-quarter earnings, partly due to supply chain disruptions and insurance losses. Berkshire’s filings highlighted operational risks from shifting trade policies, including cost pressures and unpredictable demand, even as the company’s cash reserves hit a record high. Despite the current uncertainty, Buffett maintained his optimism about the long-term advantages of global cooperation.