Warren Buffett says that the customs tariff that can lead to the opposite of the economy, “Trade should not be a weapon. It is a big mistake, I don’t think it is wise.”
At the annual shareholders meeting Berkshire Hathaway BRK on saturday, Warren Buffett He criticized the commercial policy of the current administration, and described the imposition of punitive definitions on global trade as a strong mistake.
What happened: During the session, Buffett expressed his dissatisfaction with the current aggressive commercial policy, without direct mention of the president Donald Trump.
Address the assembly, Bavate He said“Trade should not be a weapon”, and warned against provoking billions of people all over the world with punitive definitions.
“Trade should not be a weapon. The United States won. I mean, we have become an incredibly important country, starting with nothing 250 years ago, there was nothing like that,” said Pavit.
He added: “It is a big mistake, in my view, when you have seven billion people you don’t like well, and you got 300 million people somehow about their quality – I don’t think this is true, and I do not think it is wise.”
His remarks were made following the last White House’s entry into the highest import drawings in decades, causing great instability in the market.
Also read: Warren Buffett about the movements of Donald Trump: Trump “unprecedented”
“I think the more the rest of the world becomes more prosperous, the more we will be at our expense, the more prosperous, the more safe we feel, the more your children will feel.”
The esteemed investor also stressed the importance of global prosperity, stressing that a prosperous world will not come at the expense of the United States, but rather enhance his safety and prosperity.
In the first quarter profit report Berkchire Hathaway indicated that the customs tariff and other geopolitical events have generated a “great uncertainty” of the bloc.
The company also revealed that it was operating defensive, as it was selling shares for 10 quarters in a row, which led to 347 billion dollar cash reserves at the end of March.
Why do it matterBuffett comments come at a time when the world is fighting with the economic effects of the solid trade policy of current management. This policy was characterized by a high tariff, which leads to great fluctuations in the market and uncertainty.
This has pushed companies such as Berkshire Hathaway to adopt a defensive position, sell stocks and collect cash reserves. Puffett’s criticism of politics emphasizes the potential risks and challenges it poses to global trade and prosperity.
His notes act as a reminder of the importance of maintaining a balanced approach and cooperation in global trade, for the benefit of all the countries concerned.
Read after that
Warren Buffett’s wealth grows even amid the war of tariffs and global turmoil in the market
