Warren Buffett, speaking at Berkshire Hathaway’s annual shareholder meeting, criticized the United States’ use of tariffs under President Donald Trump, warning against alienating global trade partners. Addressing nearly 40,000 attendees, Buffett said, “It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well, and you have 300 million who are crowing about how they have done.” He emphasized the need for cooperation, not confrontation, in global trade relations.
Buffett supports balanced trade but disagrees with the aggressive tariff approach. “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,” he said, noting the world becomes safer when more countries prosper.
Despite America’s historical and ongoing challenges, Buffett remains optimistic about the country’s long-term potential. “If I were being born today, I would just keep negotiating in the womb until they said, ‘You could be in the United States,’” he added.
Tariffs dominated the shareholder questions submitted ahead of the meeting, but investors were also curious about why Buffett is holding on to $347.7 billion in cash. He explained that attractive investment opportunities are rare right now. Still, he’s confident they’ll eventually come. “We will be bombarded with opportunities that we will be glad we have the cash for.”
Some shareholders traveled far to attend, with one, Haibo Liu, camping overnight to get in. “He has helped me a lot,” said Liu, who came from China, worried this might be Buffett’s last meeting at age 94.
The event drew notable names, including Hillary Rodham Clinton, although Buffett himself has stepped back from political endorsements to avoid impacting Berkshire’s businesses.
Shareholder Linda Smith recalled her introduction to Buffett’s world through his sister Doris and has since attended around 20 meetings. Though she couldn’t afford a share at first, she began investing as soon as she started working. Now, she sees long-term value in Buffett’s businesses even after his eventual departure. “I think even if he dies, these businesses will retain their value,” she said. “I anticipate my stock going down for a while but good businesses and good people will come back.”
Buffett, who has led Berkshire for 60 years, shows no signs of retiring. He says he’ll continue as long as he’s capable, though he has shortened this year’s Q&A session. Still, many shareholders say his insights and leadership will be deeply missed when the time comes.