Ticker: From Laos to Brazil, Trump’s tariffs leave a lot of losers

President Donald Trump s tariff onslaught this week left a lot of losers from small poor countries like Laos and Algeria to wealthy U S trading partners like Canada and Switzerland They re now facing hefty taxes tariffs on the products they export to the United States The closest thing to winners may be the countries that caved to Trump s demands and avoided even more pain But it s unclear whether anyone will be able to claim mastery in the long run even the United States the intended beneficiary of Trump s protectionist policies Trump s business war has pushed the average U S tariff from at the start of to now the highest since according to the Budget Lab at Yale University One expert at the New York Law School stated that in plenty of respects everybody s a loser here Profits drop at Warren Buffett s Berkshire Hathaway as it writes down its Kraft Heinz commitment Warren Buffett s company shared less than half as much profit in the second quarter as it took a billion writedown on the value of its stake in Kraft Heinz as that iconic food producer considers largely undoing the merger that Berkshire Hathaway helped bankroll Berkshire noted it earned billion in the quarter because it recorded a smaller gain on its investments compared to last year when it unloaded a chunk of its Apple stake Berkshire still owns more than of Kraft Heinz Buffett has noted previously that he believes in the company but the concern is that he overpaid for it originally