Trump tariffs hit Buffett's Berkshire consumer goods business hard "
According to online reports, Buffett's Berkshire Hathaway (BRK.A.N, BRK.B.N) said its consumer goods business was hit by President Trump's trade policy, which increased tariffs on imported goods. The group's consumer goods division, which includes brands such as Fruit of the Loom, Jazwares and Brooks Sports, saw second-quarter revenue fall 5.1% year-on-year to $189 million, mainly due to falling sales, the impact of tariffs and business restructuring. Berkshire said the tariff policy caused delays in order delivery. However, the company pointed out that sneaker brand Brooks 'revenue rose 18.4% this quarter against the trend, thanks to increased sales. Because Berkshire's business spans multiple economic sectors, its operating conditions are regarded as a microcosm of the U.S. economy, so they have attracted much attention from investors. At Berkshire's annual meeting in May this year, Buffett once supported free trade, saying that tariffs should not be a "weapon" and emphasized that "balanced trade is good for the world." (Jin Shi)
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