Berkshire Hathaway CEO Speaks Out Against Protectionist Policies
Renowned investor Warren Buffett expressed his disapproval of President Donald Trump's global trade war during Berkshire Hathaway's annual meeting in Omaha, Nebraska. Without directly naming Trump, Buffett emphasized that trade should not be used as a "weapon."
Buffett described the current trade policies as a "big mistake," warning of potential negative consequences for the United States. He stressed the importance of global prosperity and its positive impact on the country's economy and security.
Speaking at the Q&A session, Buffett highlighted the historical success and significance of the United States, emphasizing the need for wise and fair trade practices. He criticized the imposition of tariffs and the escalating trade tensions between the US and China.
Despite Berkshire Hathaway reporting a slight decline in first-quarter profits, Buffett's holding company has seen significant growth since Trump's election. The conglomerate's stock has surged over 20% following Trump's victory in November.
Trump's administration's imposition of tariffs on China, met with retaliatory levies from the Chinese government, has sparked a global trade war. Buffett's remarks come at a crucial time as trade tensions continue to escalate.
