As the stock market reeled Friday from President Donald Trump’s move to institute widespread global tariffs, Trump shared a video on Truth Social that erroneously claimed legendary investor Warren Buffett praised his recent economic policies.
Here's a closer look at the facts.
CLAIM: Warren Buffett said President Donald Trump is “is making the best economic moves he’s seen in 50 years.”
THE FACTS: This is false. Berkshire Hathaway, Buffett's company, issued a statement shortly after Trump posted the video, calling reports on social media attributing comments to Buffett “false.” Buffett told a reporter Friday that he won't be commenting on the economy until Berkshire Hathaway's annual meeting later this spring.
“There are reports currently circulating on social media (including Twitter, Facebook and TikTok) regarding comments allegedly made by Warren E. Buffett. All such reports are false,” reads the Berkshire Hathaway statement.
The company did not specify which reports the statement was referring to and did not respond to requests for clarification.
In the video the president shared, a voiceover states as it shows a clip of Buffett: “Trump is purposely crashing the stock market by 20% this month, but he's doing it on purpose. And this is why Warren Buffett just said Trump is making the best economic moves he's seen in over 50 years.”
The video's audio comes from a March 13 Instagram post.
CNBC reporter Becky Quick reported Friday that Buffett said any quotes circulating on social media about the current economic situation that are purportedly from him are not authentic.
“He says that he’s not talking to anybody about anything related to the markets, the economy or tariffs, and that he will not be doing that between now and the annual meeting for Berkshire Hathaway, which takes place on Saturday, May 3,” Quick said in a CNBC segment.
However, Buffett did speak briefly about tariffs in an interview for CBS News' "Sunday Morning” that aired March 2.
“Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war to some degree,” he said in response to a question on how he thinks tariffs will effect the economy.
He was vaguer when asked how he sees the state of the economy saying, “I can’t talk about it now, I really can’t.”
In recent years, Buffett has stopped commenting on politics or other controversial subjects because, he has said, he doesn’t want to hurt Berkshire’s businesses by offending anyone. The longtime Democrat hasn’t publicly backed any candidates for office since Hillary Clinton ran for president.
He did offer advice addressed to “Uncle Sam” in his most recent annual letter to shareholders, reminding the country that “we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part.”
Representatives for Trump did not respond to a request for comment.
The S&P 500 lost 6% Friday after China matched Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession.
Associated Press writer Josh Funk contributed to this report.
Find AP Fact Checks here: https://apnews.com/APFactCheck.
Cars rest on a carrier at the BNSF Railway vehicle storage facility at the Port of Richmond on Thursday, April 3, 2025, in Richmond, Calif. (AP Photo/Noah Berger)
Cranes line a dock at the Port of Oakland on Thursday, April 3, 2025, in Oakland, Calif. (AP Photo/Noah Berger)
Flags brought by supporters wave in the breeze before President Donald Trump arrives at the Trump International Golf Club, Friday, April 4, 2025, in West Palm Beach, Fla. (AP Photo/Alex Brandon)
KAMPALA, Uganda (AP) — Uganda's President Yoweri Museveni, who has ruled the country for 40 years, had an early lead Friday in a tense presidential election marred by an internet shutdown, voting delays and opposition allegations of ballot stuffing and detentions by security forces.
Provisional results from half of the polling stations tallied so far showed Museveni with more than 70% of the vote while his main challenger Robert Kyagulanyi, the musician-turned-opposition leader best known as Bobi Wine, had 19%, according to the national electoral commission.
Activists protesting against the election results so far lit bonfires in the capital, Kampala, on Friday afternoon as the provisional results were being announced.
The 81-year-old Museveni has served the third-longest tenure of any African leader and is seeking to extend his rule into a fifth decade. The aging president’s authority has become increasingly dependent on the military, which is led by his son, Muhoozi Kainerugaba.
Wine, who is calling for political change, said he was unable to leave his house and that his polling agents in rural areas were abducted before the voting started, undermining his efforts to prevent alleged electoral offenses such as ballot stuffing.
Wine was hoping to end Museveni's four-decade rule in an election during which the military was deployed and heavy security was posted outside Wine's house near Kampala, the Ugandan capital, after the vote.
“He is a person of interest. He is a contestant,” police spokesman Kituuma Rusoke told local broadcaster NBS, suggesting heavy security deployment around Wine’s home was for his own security.
Several people were killed and others were injured in a violent incident in central Uganda that involved supporters of two parliamentary candidates, Rusoke said. He said that more than 20 opposition supporters were arrested.
The security forces were a constant presence throughout the election campaign, and Wine said authorities followed him and harassed his supporters, using tear gas against them. He campaigned in a flak jacket and helmet due to his security fears.
Wine wrote Thursday on X that a senior official in his party in charge of Uganda's western region had been arrested. He charged that there was “massive ballot stuffing everywhere.”
Rural Uganda, especially the western part of the country, is a ruling-party stronghold, and the opposition would be disadvantaged by not having polling agents present during vote counting.
To try to improve his chances of winning, Wine had urged his supporters to “protect the vote” by having witnesses document alleged offenses at polling stations, in addition to deploying official polling agents.
Wine faced similar setbacks when he first ran for president five years ago. Museveni took 58% of the vote, while Wine got 35%, according to official results then. Wine said at the time that the election had been rigged in favor of Museveni, who has spoken disparagingly of his rival.
Museveni, after voting on Thursday, said the opposition had infiltrated the 2021 election and defended the use of biometric machines as a way of securing the vote in this election.
Uganda has not witnessed a peaceful transfer of presidential power since independence from British colonial rule in 1962.
Voters line up to cast their ballots at a polling station, during the presidential election, in the capital, Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
Election officials count ballots after the polls closed for the presidential election at a polling station in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
An election official holds up unmarked ballots during the vote count after polls closed for the presidential election, at a polling center in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
A political representative speaks as he works to observe and verify the counting of ballots after polls closed in the presidential election at a polling station in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
A supporter of leading opposition candidate Bobi Wine cheers while watching election officials count ballots, after polls closed at a polling station in Kampala, Uganda, Thursday, Jan. 15, 2026. (AP Photo/Brian Inganga)
