Buffett criticizes Trump’s tariff rollout, we should not use business as a weapon ‘

Legendary investor Warren Buffett On Saturday, against President Donald Trump’s tariff and the President rolled him.

Berkshire Hathaway President and CEO 94, Buffett criticized Trump administration Using tariffs as a business strategy, arguing that the business has been opposed to international relations by employing as “weapons” and global markets have been unstable.

“The balanced business is good for the world,” and “trade should not be a weapon,” Buffett said at the annual meeting of Berkshire Hathaway in Omaha, Nebraska, which attracts some 40,000 people every year, who want to listen to billionaire magnets, including former state secretary Hillary Clinton, who also included.

Warren Buffett says that tariffs are an economic ‘war work’: ‘Tooth fairy’ not ‘them’

Buffett said, “I don’t think it is a good idea to design a world where some countries say, ha ha ha, we have won,” Buffett said. “I think the more rich in the rest of the world, the more rich we will be.”

“The Oracle of Omaha” emphasized the importance of balanced and mutually beneficial trade for all countries.

“This is a big mistake in my view when you have 7.5 billion people who do not like you very well, and you have 300 million who say about how they have done,” Buffett said.

“We should trade with the rest of the world. We should do what we do best and they should do what they do best,” he said.

Trump argues that his tariffs are inspired by making trade fair for the United States.

But despite concerns about the American economy and the direction of the country, Buffett maintained his traditional optimism, stating that criticism of policies and those who make them are equal to the course.

“We are always in the process of change,” he said. “I won’t be discouraged … we are all very lucky.”

Warren Buffett, in the annual letter, Berkshire Hathaway’s success touts

This is not the first time the legendary investor looks against the tariff. In March, ahead of Trump’s officer Tariff declaration, Buffet said. Tariffs are “a work of war” and noticed that America has a lot of experience with them.

“Over time, they are united on goods. I mean, tooth fairy does not pay them!” Buffett jokingly said. “And what? You will always have to ask that question in economics. You always say, ‘And then what?” ,

Berkshire Hathaway, A huge holding company that owns or invests dozens of famous businesses, including Geico, Dairy Queen, Apple, Coca-Cola and American Express, recorded a significant decline in the first quarter profits, earned $ 12.7 billion to $ 4.6 billion last year.

The company said the operating income declined by 14% to $ 9.6 billion, which reflects untrue losses on shares such as Apple, a major factor with $ 860 million in insurance deficit from southern California wildfire.

BNSF Railroad, which is owned by Berkshire, saw improvement in earnings.

Berkshire’s cash stake increased by $ 334.2 billion at the end of the year. The company did not re -recurrent for the third straight quarter and was a pure vendor of shares for the 10th quarter.

Buffett expressed concern about Berkshire’s cash, saying that the company recently came “close” to spend $ 10 billion, but that the purchase opportunities do not fall into a systematic fashion. It should be more than five years, he said, but not necessarily tomorrow.

Warren Buffett, in the annual letter, Berkshire Hathaway’s success touts

Berkshire’s share price has so far faced a turbulent period for markets, growing 18.9% this year, while Standard and Poor’s 500 was below 3.3%.

Buffett confirmed his commitment to Berkshire for a long time as his health permit. He said that he enjoys investment and there is no plan to retire.

Reuters contributed to this report.