OMAHA, Neb. – Warren Buffett has urged the United States to end its trade war, stating that trade should not be used as a weapon. During his annual shareholder meeting in Omaha, the billionaire investor and Berkshire Hathaway CEO emphasized the importance of global trade, saying the U.S. should focus on what it does best while allowing others to do the same. Although he did not mention President Trump directly, his comments were seen as a critique of the administration’s tariff policies, which have disrupted financial markets and raised concerns about a potential recession.
At the event, Buffett also announced his decision to step down as CEO by the end of the year, with Greg Abel set to succeed him. The announcement was met with a standing ovation from attendees. Buffett has largely refrained from commenting on the trade war this spring, but his peers have begun criticizing the tariffs’ effects on the global economy.
Berkshire Hathaway reported a decline in quarterly profits, attributing part of the decrease to uncertainties caused by tariffs. The company warned that adverse consequences could arise from these policies. Buffett used the platform to advocate for America’s prosperity, arguing that a more prosperous world benefits the U.S. and enhances national security.
The annual meeting, often referred to as “Woodstock for Capitalists,” drew tens of thousands of attendees who enjoyed exhibits featuring Berkshire-owned brands. Attendees purchased items such as See’s Candies and plush toys modeled after Buffett and his late partner, Charlie Munger.
— new from NPR