Trump Tariffs Deal Heavy Blow to Berkshire Hathaway’s Consumer Goods Business

BlockBeats News, August 2 — Berkshire Hathaway (BRK.A.N, BRK.B.N), led by Warren Buffett, stated that its consumer goods business has been impacted by U.S. President Trump’s trade policies, which have raised tariffs on imported goods. The conglomerate’s consumer products division—which includes brands such as Fruit of the Loom, Jazwares, and Brooks Sports—saw its second-quarter revenue drop 5.1% year-on-year to $189 million, mainly due to declining sales, the effects of tariffs, and business restructuring.

Berkshire noted that the tariff policies have caused delays in order deliveries. However, the company pointed out that athletic footwear brand Brooks achieved a remarkable 18.4% revenue increase this quarter, thanks to higher sales volumes. Given Berkshire’s diverse business portfolio spanning multiple sectors, its performance is often viewed as a barometer of the U.S. economy and closely watched by investors. At Berkshire’s annual meeting in May this year, Buffett strongly supported free trade, stating that tariffs should not be used as “weapons” and emphasizing that “balanced trade is good for the world.” (Jin10)