On May 3rd, at the annual meeting of Berkshire Hathaway, Warren Buffett, the 94 - year - old billionaire investor, expressed his views on the risks of abusing tariffs. He emphasized that "tariffs should not be used as a 'weapon'", and stated that "if other countries become more prosperous, the United States will also become richer".
Buffett Warns Against Tariff Abuse at Berkshire Hathaway Annual Meeting
On May 3rd, at the annual meeting of Berkshire Hathaway, Warren Buffett, the 94 - year - old billionaire investor, expressed his views on the risks of abusing tariffs. He emphasized that "tariffs should not be used as a 'weapon'", and stated that "if other countries become more prosperous, the United States will also become richer".
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Buffett said that although Berkshire has been carefully dealing with market fluctuations and its cash reserves have increased to a record $347.7 billion, he still holds an optimistic attitude towards the overall development of the world economy. Although the tariff policies of former US President Donald Trump had previously caused turmoil in the market and made investors uneasy, Buffett had hardly commented on this policy publicly before. This time, his stance is clear. He believes that "trade balance is beneficial to the world. Trade should not be regarded as a weapon." He also added that "I don't think it's a good idea to design a world where only a few countries shout 'Haha, we win'. The more prosperous the world is, the more prosperous we will be."
Despite some concerns about the US economy and the country's overall direction, Buffett still maintains his consistent optimistic stance. He said, "We are always in a state of constant change. I won't be depressed... We are actually all very lucky."
