Buffett Criticizes U.S. Tariff Strategy
(MENAFN) During Berkshire Hathaway’s yearly meeting with shareholders on Saturday, famed investor Warren Buffett voiced strong disapproval of Leader Donald Trump’s approach to international trade.
Buffett expressed concern that the administration’s aggressive reliance on tariffs was effectively transforming commerce into “an act of war.”
He emphasized that fostering balanced trade relationships is vital for maintaining worldwide stability and economic growth.
Since Leader Trump resumed office in January, his administration has rolled out extensive tariffs, most notably the “Liberation Day” measures unveiled on April 2.
These tariffs affect over 90 of America’s trading partners.
Although the majority of these levies were temporarily suspended for 90 days, a standard 10 percent tariff continues to apply.
Notably, China was not granted any exemption and instead faced a 145 percent tariff on all imported items, prompting Beijing to strike back with 125 percent duties and fresh restrictions on exports to the U.S.
Although Buffett avoided directly naming Trump, he cautioned that the nation’s increasingly aggressive trade posture could result in diplomatic isolation.
“I don’t think it’s a good idea to design a world where a few countries say, ha ha ha, we’ve won. And other countries are envious,” Buffett stated.
“It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well, and you have 300 million who are crowing about how they have done.”
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