Warren Buffett, at his annual shareholder meeting in Omaha, urged the United States to end its trade war, stating, "Trade should not be a weapon." He emphasized the importance of trading with others to leverage each country's strengths. Although silent on President Trump's tariffs until now, Buffett's comments address a growing concern among Wall Street and business leaders regarding the negative impacts of these tariffs on the economy. Additionally, he announced his impending retirement as CEO, transitioning to his successor, Greg Abel, noted by a standing ovation.
"Trade should not be a weapon," the billionaire investor and Berkshire Hathaway CEO said... We should do what we do best, and they should do what they do best."
Buffett's remarks addressed the uncertainty injected into businesses due to tariffs, stating that 'many of the largest U.S. companies are cutting or withdrawing their financial forecasts.'
The enthusiasm from that response can be interpreted in two ways," he quipped as he left the stage, referring to the standing ovation he received.
Buffett has been largely silent on trade this spring, as some of his peers have cautiously started criticizing the tariffs' impact.
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