Trump tariffs hit Buffett's Berkshire consumer goods business hard
2025-08-02 18:51:45
Buffett's Berkshire Hathaway (BRK.A.N, BRK.B.N) said its consumer goods business had been hit by US President Donald Trump's trade policy, which raised tariffs on imports. The conglomerate's consumer goods division, which includes brands such as Fruit of the Loom, Jazwares and Brooks Sports, saw second-quarter revenue fall 5.1 per cent year-on-year to $189 million, mainly due to lower sales, the impact of tariffs and business restructuring. Berkshire said the tariff policy caused delays in order deliveries. However, the company pointed out that Brooks, a sports shoe brand, saw revenue rise 18.4 per cent in the quarter against the trend, helped by higher sales. As Berkshire's business spans multiple economic sectors, its operating conditions are seen as a microcosm of the US economy, which has attracted the attention of investors. At Berkshire's annual meeting in May, Buffett championed free trade, saying tariffs should not be used as "weapons" and stressing that "balanced trade is good for the world."
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