In tonight's other news, billionaire investor Warren Buffett said the United States should not use trade as a weapon.

Buffett, who's the fifth richest person in the world, made the comments during today's annual meeting of Berkshire Hathaway, where he's CEO.

He also announced that he'll be retiring at the end of the year when he'll be 95.

Meanwhile, President Trump brushed aside recession fears in an interview for tomorrow's Meet the Press on NBC.

Mr. Trump said the pains of this transition period will lead to a flourishing economy.

It's the same question.

Yeah, there are many people on Wall Street say this is going to be the greatest windfall ever happened.

And that's my question, the long term.

Is it okay in the short term to have a recession?

Look, yeah, everything's okay.

What we are, I said, this is a transition period.

I think we're going to do fantastically.

This week, new government numbers showed that the U.S. economy shrank in the first three months

of the year.

That's the first drop in three years.

Imports in the first quarter surged as companies tried to beat tariff deadlines.

The tariffs on cars and car parts kicked in today with significant changes intended to blunt

the impact on U.S. carmakers.

This week, Mr. Trump signed an executive order to ease the levy car manufacturers would pay on

vehicles assembled in the U.S. with parts made in another country.

The move came after U.S. carmakers said the tariffs could raise prices and shrink sales.

The White House maintains the tariffs will create an incentive for them to create more jobs in the United States.

...