Amid a turbulent Friday for the stock market, influenced by President Donald Trump’s decision to impose broad global tariffs, Trump shared a video on Truth Social claiming Warren Buffett supported his recent economic moves. However, this claim was quickly debunked.
An examination of the situation reveals important details. The claim that Warren Buffett declared Trump is “making the best economic moves he’s seen in 50 years” is inaccurate. In response to the circulated video, Buffett’s company, Berkshire Hathaway, clarified that the social media attributions were untrue. Buffett himself stated he would refrain from discussing the economy before the upcoming Berkshire Hathaway annual meeting this spring.
The official statement from Berkshire Hathaway refuted rumors on social media, including platforms such as Twitter, Facebook, and TikTok, asserting that any purported comments by Warren Buffett were false. The company did not specify particular reports but did not respond to inquiries for more details.
The video shared by Trump featured a misleading voiceover suggesting that Buffett commended Trump’s economic strategy, claiming that the president’s orchestrated stock market downturn was a deliberate and wise maneuver. This audio was reportedly sourced from a March 13 Instagram post.
According to CNBC reporter Becky Quick, any social media quotes about the economy attributed to Buffett are inaccurate. Buffett confirmed he would not discuss topics like markets, the economy, or tariffs until after Berkshire Hathaway’s annual meeting, set for May.
Despite remaining largely silent on political subjects in recent years to avoid controversy, Buffett did provide some thoughts on tariffs during a brief CBS News interview aired on March 2. He described tariffs as akin to acts of war and refrained from thoroughly discussing the economy, acknowledging the limitations of the current period.
Buffett has maintained a reserved stance on political matters, especially since Hillary Clinton’s presidential campaign, choosing not to endorse any candidates publicly. Yet, he still shared insights in his latest letter to shareholders, urging “Uncle Sam” to preserve a stable currency exuding both wisdom and vigilance.
Representatives for President Trump did not offer any comments regarding the situation. Meanwhile, the stock market endured a significant drop, with the S&P 500 losing 6% as China responded to the tariff increases with their own measures, threatening to escalate the trade war further, potentially leading to a recession.