President Donald Trump’s tariff policies, which have sent global markets reeling over the past few weeks, are rooted in his dislike of the U.S. trade deficit.
While his wide-ranging tariffs ignited backlash from economists, the underlying concern isn’t new. In 2003, for Fortune Magazine, billionaire investor and CEO of Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) Warren Buffett offered a novel solution to tackle the country’s trade deficit—one that contrasts sharply with Trump’s approach.
What Happened: In the 2003 …