American billionaire Warren Buffett criticized President Donald Trump’s commercial policy, and said that imposing punitive customs duties on the rest of the world is a fatal mistake.
“Trade should not be a weapon. This will not be at our expense. I think that the more prosperous the rest of the world increases our prosperity and our children and your children are safe.”
“Military Business”
Buffett added that the customs trade and tariffs “can be such as war actions and I think they have led to bad results, only because of the positions they raised. In the United States, I mean, we must seek to trade with the rest of the world, do what we increase, and do what they are good at.”
Puffett’s comments, the most explicit so far about customs duties, came after the White House hit the world with the highest customs duties on imports for decades, which sparked sharp fluctuations in American stock exchange indicators.
Trump later announced a 90 -day sudden suspension for most of the increase, with the exception of China, as part of the White House’s pursuit of deals with other countries. This stopping led to the stability of the market to some extent.
However, Trump imposed 145% customs duties on Chinese goods imported this year, prompting Beijing to impose a 125% reprisal.
China announced last week that it was studying the possibility of starting trade negotiations with the United States.
Buffett explained that protectionist policies may have negative consequences in the long run over the United States, after it became the leading industrial country in the world.
“Great mistake”
“It is a fatal mistake, in my opinion, that you have 7.5 billion people who do not like you, while you have 300 million people boasting somehow with their good performance. I don’t think this is true, and I do not think it is a wise behavior. The United States has won. I mean, we have become a very important country, we started from scratch 250 years ago. We have never seen such a matter.”
Investors were waiting to hear the 94 -year -old “Omaha”, “Arafa Omaha”, to deal with the unstable total economic environment, in addition to evaluating the state of the economy, especially since the Berkshire Hathaway Group – which is worth a trillion dollars, includes the insurance, transportation, energy, retail trade and others – making Pavite qualified to comment on the current situation of the economy American.
The fortune -teller
Buffett announced – during yesterday’s meeting – to remove his position as head of the Berkshire Hathaway Group at the end of the year after six decades spent at the head of this group.
On Saturday, during the annual meeting of the company’s shareholders in Omaha, Nebraska, he stated that Greg Apple, the deputy head of insurance operations, will take over the group’s management after the approval of the Board of Directors, and added that the council intends to meet on Sunday.
Berkshire grew in a large way, led by Buffett as Chairman and Executive Chairman, as he chose acquisitions and shares of the company’s portfolio, along with his reliable advisor and vice -chairman, Charlie Monterender, who died in 2023 at the age of 99.
