Warren Buffett's Warning to Wall Street on President Donald Trump's Tariffs Is Deafening
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) reported its second-quarter earnings results on Aug. 2. Buffett will be stepping down as the company's CEO in a little under five months, and investors are likely paying close attention to the last reports with him at the helm. Although the company's operating results came in strong, investors may have been disappointed that Berkshire didn't repurchase any of its own stock.
In addition to watching the usual earnings metrics, investors are always parsing through Buffett's letters and Berkshire's regulatory filings on the hunt for clues about how Buffett and his team feel about the economy. In its Q2 report, Berkshire specifically mentioned President Donald Trump's tariffs. The company's warning to Wall Street only grew louder.
While Buffett had expressed concerns about the U.S. trade deficit with other countries in the early 2000s, he and Berkshire have made it pretty clear that they are not a fan of Trump's tariff plans.
Source Fool.com
