BlockBeats News, August 2, Berkshire Hathaway (BRK.A.N, BRK.B.N) under Warren Buffett reported that its consumer goods business has been impacted by U.S. President Trump's trade policies, which have increased tariffs on imported goods. The consumer goods division of the conglomerate, which includes brands such as Fruit of the Loom, Jazwares, and Brooks Sports, saw a 5.1% year-on-year decline in second-quarter revenue to $189 million, primarily due to a drop in sales, tariff impacts, and business restructuring.
Berkshire stated that the tariff policy has led to delays in order deliveries. However, the company noted that the sneaker brand Brooks experienced an 18.4% revenue growth this quarter, benefiting from increased sales. As Berkshire operates across multiple economic sectors, its performance is seen as a microcosm of the U.S. economy, attracting significant attention from investors. At Berkshire's annual meeting in May this year, Buffett supported free trade, stating that tariffs should not be used as 'weapons' and emphasized that 'balanced trade benefits the world.' (Jinshi)