Berkshire’s latest earnings are in. The conglomerate is issuing a stark warning: Trump’s tariffs could hit your bottom line.

Berkshire's operating profit — those from the company's wholly owned businesses including insurance and railroads — dipped 4% year over year to $11.16 billion in the second quarter. The results were impacted by a decline in insurance underwriting, while railroad, energy, manufacturing, service and retailing all saw higher profits from a year ago.

Warren Buffett's company reported less than half as much profit in the second quarter as it took a $3.76 billion writedown on the value of its stake in Kraft Heinz as that iconic food producer considers largely undoing the merger that Berkshire