Berkshire Hathaway denies Buffett's endorsement of Trump's tariffs

Omaha oracle went cash heavy ahead of stock market fall

Berkshire Hathaway has made a rare public statement on behalf of its chair and CEO Warren Buffett, defending him against claims that he had endorsed US President Donald Trump’s tariffs, which crashed global stock markets.

The president launched a wave of ‘retaliatory' levies ranging from 10% to 50% on the world last Thursday (3 April), which has so far wiped over $5trn off the global stock market value with Asian markets continuing to fall today (7 April).  US stocks see 'worst week in five years' as Trump's tariffs set markets on fire The move has been widely criticised by money managers and analysts, who warned that the tariffs would likely increase costs and inflation as well as reduce economic activity, and by consequence slow global growth and majorly damage investor and consumer confidence. Tr...