Trump's tariffs hit Buffett's Berkshire consumer goods business hard

Comparative news, according to Kim Ju's report, Buffett's Berkshire Hathaway (BRK.A.N, BRK.B.N) said that its consumer goods business was impacted by US President Trump's trade policy, as the policy raised tariffs on imported goods. The conglomerate's consumer goods division (which includes brands such as Fruit of the Loom, Jazwares, and Brooks Sports) saw a year-on-year decline of 5.1% to US$189 million in the second quarter, mainly due to declining sales, the impact of tariffs and business restructuring.

Berkshire said that the tariff policy caused delays in order delivery. However, the company pointed out that sneaker brand Brooks's revenue bucked the trend and increased 18.4% this quarter, thanks to increased sales. Since Berkshire's business spans multiple economic sectors, its operating conditions are viewed as a microcosm of the US economy, and are therefore attracting investors' attention. At the Berkshire Annual Meeting in May of this year, Buffett once advocated free trade, saying tariffs should not be used as a weapon, and emphasized that balanced trade is beneficial to the world.