Trade should not be a weapon,’ the investor said as he decried policies that create a few winners and widespread resentment elsewhere.

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.

Tens of thousands of shareholders descend on Omaha for Berkshire Hathaway's annual meeting. Chairman and CEO Warren Buffett faces 4 1/2 hours of questions from investors attending the event that's been dubbed "Woodstock for Capitalists."