Warren Buffett criticizes Trump’s tariffs
(MENAFN) Warren Buffett has sharply criticized President Donald Trump’s aggressive trade policies, warning that the administration’s increasing use of tariffs risks turning global trade into a form of warfare. Speaking at the annual Berkshire Hathaway shareholders meeting on Saturday, Buffett cautioned that such strategies could isolate the United States on the world stage and undermine global stability.
Although he did not name Trump directly, Buffett was clearly referring to the recent wave of tariffs introduced since Trump returned to office in January. These include the sweeping “Liberation Day” tariffs announced on April 2, targeting more than 90 countries. While most of the new duties were temporarily paused for 90 days, a 10% baseline remains in effect. Notably, China was excluded from the pause and hit with a 145% tariff on all imports, prompting Beijing to respond with 125% retaliatory tariffs and export restrictions on American goods.
Buffett argued that balanced trade fosters prosperity and peace, and warned against adopting a “winner-takes-all” mindset in international relations. “It’s a mistake when 7.5 billion people feel alienated and 300 million are celebrating,” he said.
Calling for a shift in approach, Buffett emphasized the importance of promoting shared economic growth. “The more prosperous other countries become, the more prosperous and secure we will be,” he noted. “Trade can be misused as a weapon, but when it’s balanced, it’s beneficial for everyone.”
The escalating US-China tariff conflict has rattled financial markets and prompted the International Monetary Fund to lower its 2025 global growth forecast from 3.3% to 2.8%. Economists warn that fully implementing Trump’s tariff plan could disrupt global commerce and potentially trigger a recession in the United States.
In a surprise announcement during the meeting, Buffett, who will turn 95 in August, revealed plans to retire by the end of the year. He endorsed Greg Abel, Berkshire Hathaway’s Vice Chairman and overseer of its non-insurance businesses, as his recommended successor.
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