“Trade should not be a weapon”

The Oracle of Omaha has spoken, and Wall Street is, as usual, all ears. The Warren Buffett crystal ball shows concerns about global tensions, precaution in volatile markets and confidence in Berkshire Hathaway (Brk.a) Future under a new leadership.

Buffett, currently 94, said SaturdayGo down like Berkshire Hathaway’s head At the end of this year, ending a stored investment race that saw him overcome the market year after year. Buffett said he will recommend that Greg Abel, his apparent heir, take over as CEO. Abel is currently the president and CEO of the company’s energy business and the Vice President of Berkshire’s non -insurance operations.

But before this news, Berkshire’s annual meeting saw the annual meeting on Saturday, Buffett, offered his current economic landscape, with his humor and characteristic candor. As always, his words echoed far beyond the convention center in Omaha.

Here are some of the most important moments of Buffett’s observations to investors.

The trade war and rates were the immediate focus. Buffett, talking with thousands of attendees of the annual meeting of his participation company, offered a strong reproach of protectionist trade policies when President Donald Trump tries to do it – to remodel global commercial order with wide rates.

“Commerce should not be a weapon,” he said.

Buffett, who had so far kept silently on Trump’s rates, added that trade has caused “bad things” in the attitudes presented in the United States

“I don’t think it’s a great idea to try to design a world where a few countries say,” Ha ha, we have won “and other countries are envious,” he added, adding that the United States should look for trade with the rest of the world.

Buffet did not mention the president by his name, but the goal of his criticism was clear. Tensions between the United States and China remain high, both parties impose rates on the goods of billions of dollars

“There is no doubt that trade, trade can be a war act,” said Buffett.

Buffett, who has a property conglomerate has companies ranging from railways and public services to retailers and insurance giants, has long advocated globalization and warned against isolating impulses.

Berkshire, in his quarterly launch of results, said: “Changes in macroeconomic conditions and geopolitical events, including changes in international trade policies and commercial rates, can adversely affect the operational results and values ​​of our investments in equity values ​​and our operating companies. We are currently unable to reliably predict nature, timing or magnitude. The possible economic consequences of any type of changes or the affection of the consolidations.