Warren Buffett, the 94-year-old billionaire investor, announced plans to step down from his position at Berkshire Hathaway, endorsing Greg Abel as his successor. During the annual shareholder meeting, he criticized President Trump's tariffs, cautioning against using trade as a weapon that alienates other nations. Buffett advocated for balanced trade without tariffs, stressing the importance of global prosperity for a safer world. While dismissing recent market turmoil as insignificant, he reflected on historical market declines to illustrate resilience in investing.
Buffett stated that trade should be balanced, but tariffs are not the solution, emphasizing the importance of global prosperity and cooperation.
He expressed concern over using trade as a weapon, warning that it creates animosity with the 7.5 billion people around the world.
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