But it’s unclear whether anyone will be able to claim victory in the long run — even the United States, the intended beneficiary of Trump’s protectionist policies. Trump’s trade war has pushed the average U.S. tariff from 2.5% at the start of 2025 to 18.3% now, the highest since 1934, according to the Budget Lab at Yale University. Warren Buffett’s company reported less than half as much profit in the second quarter as it took a $3.76 billion writedown on the value of its stake in Kraft Heinz as that iconic food producer considers largely undoing the merger that Berkshire Hathaway helped bankroll.
Author: Associated Press
Published at: 2025-08-02 20:14:09
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