Warren Buffett Warns Against Tariff 'Weapons' as Berkshire’s Cash Hits Record $347.7 Billion

In a rare but clear message on global trade policy, legendary investor Warren Buffett warned against using tariffs as a geopolitical weapon, stating the United States would thrive more if other nations were prosperous too. Speaking at Berkshire Hathaway’s closely watched annual shareholder meeting, the 94-year-old billionaire offered his views on everything from trade and markets to succession and Berkshire's ballooning cash pile.
"Trade should not be a weapon," Buffett said. "Balanced trade is good for the world… The more prosperous the rest of the world becomes, the more prosperous we'll become."

Buffett Breaks Silence on Tariffs

While Buffett has previously remained mostly silent on former President Donald Trump ’s aggressive tariff policies, his comments on Saturday marked a notable departure. His tone was cautious yet pointed, implicitly challenging growing protectionist sentiment in global economics. He pushed back against the notion of zero-sum trade dynamics, suggesting long-term U.S. prosperity is tied to a thriving global economy.
“It’s not a good idea to design a world where a few countries say, ‘Ha ha, we’ve won.’ We’re always in the process of change, but I wouldn’t get discouraged… we’re all pretty lucky,” Buffett added, reaffirming his trademark optimism.

 

Berkshire Hoards Record Cash
The comments came on the heels of Berkshire reporting record cash reserves of $347.7 billion, up from $334.2 billion at year-end. The company has now been a net seller of stocks for ten consecutive quarters and did not repurchase any shares for a third straight quarter. First-quarter results also revealed a 64% plunge in net income to $4.6 billion, mainly due to unrealized losses on stocks like Apple . Operating profit dropped 14% to $9.64 billion, hit by January's California wildfires impacting its insurance arm.

Despite the eye-popping cash pile, Buffett insisted the company was not intentionally sitting idle. “We came close to spending $10 billion recently,” he said. “We’ve made a lot of money by not being fully invested at all times… Buying opportunities don’t come in an orderly fashion.”

Succession, Japanese Bets & Long-Term Strategy
When asked whether the cash was being saved for Vice Chairman Greg Abel—his designated successor—Buffett sidestepped the question. But both he and Abel reaffirmed Berkshire’s long-term faith in its stakes in five major Japanese trading houses, saying the investments could last “at least 50 years.” “We’re building relationships,” said Abel. “And we really hope to do big things with them.”
 

Vice Chairman Ajit Jain also spoke, noting that Geico has made "rapid strides" in deploying AI-driven pricing models to better assess driver risk.
Tens of thousands of Buffett devotees packed into Omaha’s downtown arena, with some lining up in 4°C temperatures overnight just to hear the Oracle of Omaha speak. Buffett’s voice, though thinner than in past years, was sharp and measured as he fielded questions from shareholders for hours.

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