19 hours ago
Here are five quotes from Warren Buffett in reaction to tariffs and trade war initiated by US President's Donald Trump.
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“Trade should not be a weapon... The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago. There hasn’t been anything like it,” the Oracle of Omaha said addressing the Berkshire Hathaway annual general meeting for the 60th time.
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"In the United States, we should be looking to trade with the rest of the world. We should do what we do best, and they should do what they do best," Buffett said in response to a question on the impact of Trump's move to protect US industry with tariffs on imports.
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"Yes, things can be better, but keep this in mind: We only have 333 million people, yet have more people in the middle and upper class than any other country in the world," Buffett added. Buffett's view is in contrast to the view of Trump and his support base, which rallies around the slogan 'Make America Great Again', that has blamed globalisation for the declining quality of life for the country's middle class.
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“It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done - I don’t think it’s right, and I don’t think it’s wise," Buffett said, addressing the rising income and wealth inequality around the world. Many experts the record global gap between the rich and the poor has increased the appeal for protectionist forces around the world. PHOTO: Cardboard cutouts depicting Berkshire Hathaway CEO Warren Buffet and former Vice Chairman Charlie Munger during a shareholders shopping day ahead of the Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska, US, on Friday. Photographer: Dan Brouillette/Bloomberg
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"I was born in Omaha, Greg was born in Canada, Ajit was born in India," Buffett said early at the AGM on May 3. "We are quite a diverse group here," he added. Buffett's comments cut against the dominant tirade against immigration in the US, a wave that Donald Trump to rode to victory in the latest election. Buffett referred to the diversity in Berkshire's leadership at least twice during the AGM. PHOTO: Shareholders attend the Berkshire Hathaway Inc annual shareholders' meeting, in Omaha, Nebraska, U.S., May 3, 2025. REUTERS/Brendan McDermid.
