Warren Buffett, one of the world's leading investors and the talismanic leader of Berkshire Hathaway, has given some excellent words of wisdom on the tariff situation.
As one of the biggest businesses in the US, Berkshire Hathaway may see some impacts by the implementation of tariffs on most goods from most nations, with heavy tariffs to hit Chinese goods.
Buffett has given his views on tariffs, but not just from a personal and Berkshire Hathaway-specific angle, but for the US as a whole.
Let's take a look at what Warren Buffett has said.
Warren Buffett's warning on tariffs
The legendary investor has made it clear through a statement from Berkshire Hathaway that he hasn't (via social media) voiced support for tariffs. Berkshire Hathaway said:
There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false.
So, what has he actually said about tariffs?
According to reporting by CBS News from an interview in March 2025, Warren Buffett said when asked about how tariffs would affect the economy:
Tariffs are actually, we've had a lot of experience with them. They're an act of war, to some degree.
Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em! And then what? You always have to ask that question in economics. You always say, 'And then what?'
There have been a number of examples of companies saying they're going to pass on increased costs to customers. Ansell Ltd (ASX: ANN) was one business that announced price rises and there have been plenty more that have disclosed plans to raise prices.
In an interview with CNBC back in 2019, as the US and China trade war was in the headlines, Buffett said:
If we actually have a trade war, it will be bad for the whole world…everything intersects in the world. A world that adjusts to something very close to free trade…more people will live better than in a world with significant tariffs and shifting tariffs over time.
Are US stocks less attractive?
I have recently written in multiple articles that US businesses with strong market positions, great products, solid balance sheets, and growth plans look more attractive at these lower valuations amid the trade war. However, the situation may be a bit rougher for smaller, US-focused businesses.
Warren Buffett is still optimistic about American companies. He said:
A majority of any money I manage will always be in the United States. It's the best place! I was lucky to be born here.
