Warren Buffett warned of the perils of excessive tariffs, saying they should not be a "weapon" and that the U.S. would be more prosperous if other countries were.

Speaking about the negative impact of tariffs on Saturday, the 94-year-old CEO of Berkshire Hathaway did not explicitly name Donald Trump

Billionaire investor Warren Buffett, 94, announced Saturday he will leave his role as Berkshire Hathaway’s CEO by the end of the year, telling investors about his decision at the firm’s annual shareholder meeting, where he addressed President Donald Trump’s tariffs, discussed Berkshire Hathaway’s business strategies and the larger economy.