Warren Buffett Says ‘Trade Should Not Be a Weapon’

Warren Buffett said at Berkshire Hathaway’s annual meeting (BRK.A and BRK.B), held on Saturday, that he believes that “there is no doubt that trade can be a war, and that it’s led bad things.” This statement echoes earlier statements made this year.

He said, “Trade shouldn’t be a weapons,” at the event that attracts tens of thousand of people each year. He added that, in his opinion, America has already “won,” as an “incredibly significant country,” and that it “should be looking for trade with the rest the world,” and that we should be doing what we do best and they should be doing what they do best.

“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,” he said. 

The comments follow a volatile period for the markets, amid concerns about the economy due to President Trump’s rapidly changing tariff policies. The government released data earlier this week showing that the U.S.’s economy contracted in the 1st quarter for the very first time in 3 years.

Berkshire’s first-quarter earnings statement stated that “the pace of these changes, including international policies and tariffs has accelerated by 2025.” This increased “considerable uncertainty.”