• Warren Buffett warns against using trade as a weapon during Berkshire Hathaway’s annual meeting.
• He criticizes President Trump’s tariffs, stating they can be detrimental to U.S. prosperity.
• Buffett announces plans to step down as CEO by the end of the year, with Greg Abel as his successor.
• Berkshire Hathaway reported a significant cash reserve of $347.7 billion amid market uncertainties.
• Buffett emphasizes the need for balanced trade to ensure global prosperity and economic safety.

During a highly anticipated annual meeting for Berkshire Hathaway, Warren Buffett expressed serious concerns regarding President Trump's tariff policies, stating, "Trade should not be a weapon." He indicated that such tactics "can be an act of war," reflecting a significant condemnation of Trump’s approach to international trade, which he believes has angered global partners and contributed to market volatility. Buffett emphasized, “It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well," urging that a prosperous world benefits the U.S. as well, according to Forbes, HuffPost, and NY Times.

Buffett's remarks came as he announced he would step down as CEO of Berkshire Hathaway by the end of the year, a decision met with a standing ovation from an audience of around 40,000 shareholders. He revealed that Greg Abel would succeed him, promoting confidence in Berkshire’s leadership transition. Buffett noted that “if I were being born today, I would just keep negotiating in the womb until they said, ‘You could be in the United States,'" suggesting a deep-rooted optimism about America’s future despite current economic uncertainties, according to Bloomberg and South China Morning Post.

Amidst these discussions, Buffett revealed that Berkshire Hathaway's cash reserves have reached a record $347.7 billion, a sign of cautious investment amidst uncertainty in the markets caused by Trump's tariffs. He remarked, “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,” pointing to a cooperative approach to global trade as a preferable strategy, according to LA Times and Newsweek.

Buffett's comments resonated with many investors and analysts in the audience, with calls for a more diplomatic approach to international trade echoing throughout the meeting. He has historically avoided direct political discussions but seems increasingly concerned about the broader implications of current U.S. trade policies. As the meeting concluded, Buffett remained a pillar of stability for many shareholders who hold trust in his pragmatic investment philosophy, as detailed by India Times and Dawn.