(Reuters) - Berkshire Hathaway ( BRK/A ) said on Friday that reports on social media regarding comments allegedly made by its chairman are "false," after Donald Trump's account on Truth Social shared a video suggesting that Warren Buffett endorsed the U.S. president's economic policies.

The video, posted by a user named AmericanPapaBear, said Trump was intentionally "crashing" the market to force the U.S. Federal Reserve to lower interest rates while making stocks more affordable to middle-class investors.

"This is why Warren Buffett just said Trump is making the best economic moves he's seen in 50 years," the video said.

Berkshire said in a statement: "There are reports currently circulating on social media (including Twitter, Facebook and Tik Tok) regarding comments allegedly made by Warren E. Buffett. All such reports are false."

Buffett told CNBC that it was important to quickly knock down misinformation, and that he is not talking to anybody about the markets, the economy and tariffs between now and Berkshire's annual shareholder meeting on May 3 in Omaha, Nebraska.

Stock prices tumbled after Trump announced sweeping worldwide tariffs on Wednesday that were far larger than investors and economists were expecting. China struck back on Friday, imposing 34% levies that matched tariffs Trump imposed on Chinese goods.

Berkshire shares have far outperformed the broader U.S. stock market in 2025, after the conglomerate last year sold a net $134.1 billion of stocks and let cash swell to $334.2 billion.

Buffett, 94, has run Berkshire since 1965 and is arguably the world's most admired investor.

In October, before Trump won a second White House term, Berkshire said Buffett would not endorse political candidates or investment products after "numerous fraudulent claims" suggested his support.