**Omaha**: Warren Buffett denounces US tariffs as a “big mistake” during Berkshire Hathaway’s 2025 shareholders meeting, citing a 14% profit drop and over $700 million in currency losses. Industry leaders unite in criticism as trade policy volatility escalates under the Trump administration.
Warren Buffett, the renowned investor and chairman of Berkshire Hathaway, has voiced strong opposition to the tariffs instituted by the United States, describing them as “a big mistake.” Speaking at the company’s annual shareholders meeting held in Omaha, Nebraska, on May 3, 2025, Buffett argued against using trade as a tool for political leverage, stating, “Trade should not be a weapon.” He elaborated that fostering global prosperity “not at our expense” will ultimately lead to greater security and well-being for future generations.
Buffett’s comments come at a time when Berkshire Hathaway is experiencing significant financial strain due to the ongoing effects of the tariffs. The company’s operating profits fell by 14% in the first quarter of 2025, amounting to $9.64 billion. This downturn has been compounded by more than $700 million in currency losses. In its latest quarterly report released shortly before the meeting, Berkshire Hathaway acknowledged that its financial results are subject to considerable uncertainty influenced by macroeconomic and geopolitical factors, particularly changes related to international trade policies. The report underscored that the “pace of change in these events, including international trade policies and tariffs, accelerated in 2025,” indicating the potential for future volatility.
The financial ramifications of the current tariff policies have not only drawn the attention of Buffett but also prompted dissent from other prominent figures in the financial sector. Notable critics include Bill Ackman, founder of Pershing Square Capital Management, Jamie Dimon, CEO of JPMorgan, and Tony Pasquariello, head of Goldman Sachs’ hedge fund team. These industry leaders have similarly voiced concerns about the implications of tariffs on business operations and economic growth.
As the discourse surrounding trade policy continues, President Donald Trump’s administration has attempted to reassess its position on tariffs, particularly those affecting China. With substantial pushback from the financial elite and businesses alike, the administration faces a complex landscape in balancing economic strategy with political considerations.
Source: Noah Wire Services
Subscribe to Industry Updates
