Berkshire Hathaway chair Warren Buffett found himself at the center of a political controversy after US President Donald Trump shared a video on Truth Social claiming he supported Trump’s recent tariff policies. The video suggested that Trump’s tariffs would force the Federal Reserve to lower interest rates, making stocks more accessible to middle-class Americans.
According to several sources, the clip was originally shared by a user named “AmericanPapaBear,” a self-described “Trumper to the end.” It claimed that Buffett had praised the president’s economic policies, stating that Trump was “making the best economic moves he’s seen in 50 years.”
Trump is playing chess while everyone else is playing checkers. pic.twitter.com/fvThLx82Ev
— AmericanPapaBear (@AmericaPapaBear) April 4, 2025
By the end of yesterday, the video had been shared over 2,000 times on Truth Social and nearly 10,000 times on X. However, through a company press statement, Buffett and Berkshire Hathaway quickly disavowed its claims, vehemently denying any endorsement of Trump’s trade policies
Berkshire Hathaway denies praising Trump
In its press release, Berkshire Hathaway called the video’s assertions “false,” clarifying that Buffett had never endorsed Trump’s economic policies, especially with regard to tariffs.
“There are reports currently circulating on social media regarding comments allegedly made by Warren E. Buffett. All such reports are false,” the company said.
Berkshire Hathaway also explained that Buffett had not commented on the current state of the economy, the stock market, or tariffs and would not do so until the Berkshire Hathaway scheduled annual meeting in Omaha, Nebraska, on May 3.
Buffett himself appeared on CNBC in an interview to set the record straight, asserting that it was important for him to immediately address the misinformation. He told CNBC that he had not spoken to anyone about the economy or tariffs.
The 94-year-old CEO seemingly doesn’t want anything to do with Trump’s tariffs, which caused a bloodbath in the stock market in the last two days of this business week.
Friday’s US market session close saw the S&P 500 drop by almost 6%, the Nasdaq 5.8%, and the Dow Jones Industrial Average by over 2,200 points. The market lost $6.6 trillion in the two days.
Economists believe the tariffs, announced late Wednesday, were more aggressive than many in the business community had anticipated. Investors are now bracing for potential long-term economic pain, including reduced consumer income, a rise in inflation, and a US-based recession.
Warren Buffett has always opposed tariffs
While Buffett has not directly commented on the tariffs imposed this week, he has been a vocal critic of Trump’s way of handling international trade, calling the US president’s policies “detrimental to global trade and economic growth.”
In early March, the billionaire coined the tariffs as “an act of war,” reiterating that they ultimately act as a tax on consumers. “The tooth fairy doesn’t pay ’em!” Buffett surmised with a laugh during his interview with CNBC. “And then what? You always have to ask that question in economics. You always say, ‘And then what?’”
In 2019, during the POTUS’s first term, Buffett warned that Trump’s aggressive trade policies and a full-scale trade war could negatively impact the global economy.
“If we actually have a trade war, it will be bad for the whole world… everything intersects in the world,” He advised the administration to consider free trade, arguing that it leads to better outcomes for consumers and businesses alike.
Recent market declines haven’t affected Buffett’s personal wealth, as his net worth has climbed by $12 billion year-to-date, reaching a total of $155 billion. His portfolio value growth stands out among the top 10 world most wealthiest individuals, with many of them counting losses by the month.
In 2025 alone, Tesla CEO and the biggest loser in the bunch, Elon Musk’s worth, dropped by over $110 billion, while Jeff Bezos has lost $45 billion. Meta head Mark Zuckerberg’s fortune has also fallen by over $25 billion in the same period.
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