Warren Buffett, the legendary CEO of Berkshire Hathaway, clearly spoke out against tariffs at the company’s recent annual meeting. This positioning is remarkable, as Buffett has generally refrained from directly addressing political issues in the past to avoid involving his employees and subsidiaries in political debates. Nonetheless, he chose to express his opinion in this case because tariff policies are already impacting Berkshire Hathaway.
Criticism of Tariff Policy
Buffett criticized the tariff policy, often associated with Donald Trump’s presidency, without directly naming the former president. He emphasized that trade should not be a weapon and that the current trade policy has led to negative attitudes and consequences. Buffett argued that the United States has benefitted from its economic strength and its ability to focus on its strengths, and that it is unwise to rely on protectionism.
Praise for Apple CEO Tim Cook
In addition to his criticism of tariff policy, Buffett also highlighted the achievements of Apple CEO Tim Cook. This recognition underscores Buffett’s appreciation for effective corporate management and strategic decisions that have a positive impact on the market.
Market Volatility
Buffett also spoke about market volatility, which is critical for investors. He downplayed the volatility, suggesting that he remains optimistic in the long term and does not see short-term fluctuations as threatening to long-term investment strategies.
Financial Situation of Berkshire Hathaway
Berkshire Hathaway experienced a profit slump in the first quarter of 2025. Net profit fell to $4.672 billion, compared to $12.832 billion the previous year. Additionally, the company had to endure significant investment losses of $5.038 billion, representing a marked deterioration compared to the previous year.
Overall, Buffett’s position at the annual meeting indicates his support for an open and cooperative trade policy while emphasizing the importance of long-term investment strategies.