Warren Buffett has publicly denied claims circulating on social media that he endorsed Donald Trump’s new tariffs. The tariffs triggered a global stock market crash and wiped trillions off valuations. Buffett’s team stepped in to set the record straight as markets reeled and false quotes flooded platforms like X and Truth Social.
Buffett insists he’s made no remarks on current events and will not until Berkshire Hathaway’s annual meeting in May. Trump on Friday shared an outlandish social media video defending his recent policy decisions. The video argued that he is deliberately taking down the market as a strategic play to force lower interest and mortgage rates.
The video’s narrator then falsely stated, “And this is why Warren Buffett just said, ‘Trump is making the best economic moves he’s seen in over 50 years.'” The president shared a link to the video from the account @AmericaPapaBear, a self-described “Trumper to the end.
Buffett, 94, didn’t single out any specific posts, but his conglomerate outright rejected all comments claimed to be made by him. “There are reports currently circulating on social media (including Twitter, Facebook, and TikTok) regarding comments allegedly made by Warren E. Buffett.
Buffett counters false social media claims
The company said in a statement Friday that “all such reports are false.” Buffett wanted to knock down misinformation in an age where false rumors can be blasted around instantaneously. Buffett said he won’t comment on the markets, the economy, or tariffs between now and Berkshire’s annual meeting on May 3.
While Buffett hasn’t spoken about this week’s imposition of sweeping tariffs by the Trump administration, his view on such things has pretty much always been negative. In March, the Berkshire CEO and chairman called tariffs “a tax on goods.”
During Trump’s first term, Buffett spoke about the trade conflicts that erupted, warning that the Republican’s aggressive moves could have negative global consequences. “If we actually have a trade war, it will be bad for the whole world… everything intersects in the world,” Buffett said in 2019.
Buffett has been defensive over the past year, with Berkshire Hathaway’s cash pile exceeding $300 billion. His conglomerate has a big U.S. focus and has large businesses in insurance, railroads, manufacturing, energy, and retail.
Image Credits: Photo by Library of Congress on Unsplash
