Yesterday’s News 2025 05 03



Yahoo Finance: Warren Buffett: ‘Trade should not be a weapon’

The first question for Warren Buffett at the Berkshire Hathaway annual shareholder meeting involved world trade as President Trump’s tariff policy disrupts the status quo.

“Trade should not be a weapon,” Buffett said at the end of a detailed answer about the history of the United States and how global trade developed.

(Yahoo Finance more…)

CNN: Another round of auto tariffs just went into effect. They could change the industry forever

The average car buyer doesn’t think about where the parts in their vehicle come from – but automakers do.

That’s why a new round of auto tariffs – this time on parts – coming into effect Saturday could upend the industry, even more than previous levies on imported cars.

As of 12:01 am ET on Saturday, most auto part imports will come with a 25% import tax.
(CNN more…)

Atlantic: Don’t Look at Stock Markets. Look at the Ports.


Don’t Look at Stock Markets. Look at the Ports

 

…The ticker tape is just one indicator of an economy, and other signs are growing more and more ominous—including at the Port of Los Angeles, where high tariffs on China are crushing maritime traffic. “Essentially all shipments out of China for major retailers and manufacturers have ceased,” Eugene Seroka, the executive director of the port, said on April 24.
(Atlantic more…)