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

According to a report by Golden Finance, Berkshire Hathaway (BRK.A.N, BRK.B.N), owned by Warren Buffett, stated that its consumer goods business has been impacted by US President Trump's trade policies, which have increased import tariffs on goods. The consumer goods division of this enterprise group, including brands such as Fruit of the Loom, Jazwares, and Brooks Sports, saw a year-on-year decrease in revenue of 5.1% to $189 million in the second quarter, mainly due to declining sales, tariff impact, and business restructuring. Berkshire Hathaway stated that the tariff policy has caused delays in order delivery. However, the company pointed out that sports shoe brand Brooks' revenue grew 18.4% this quarter against the trend, thanks to increased sales. Due to Berkshire Hathaway's business spanning multiple economic sectors, its operating conditions are seen as a microcosm of the US economy, and therefore attract investors' attention. At the Berkshire Hathaway annual meeting in May this year, Buffett strongly supported free trade, stating that tariffs should not be a "weapon" and emphasizing that "balanced trade is beneficial to the world". (Golden Ten)