WASHINGTON – In an interview on CBS, Warren Buffett, the CEO of Berkshire Hathaway, strongly criticized President Donald Trump’s upcoming tariff plan, labeling it as “an act of war.” Buffett, a seasoned investor with decades of experience, cautioned about the economic consequences of such policies, predicting higher prices for consumers in the long run.
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“Over time, these tariffs act as attacks on goods,” Buffett said, referring to their inflationary impact. “The tooth fairy doesn’t pay for them.” His remarks come ahead of the implementation of tariffs on imports from Canada, Mexico, and China. Starting March 4, tariffs will add a 25% levy on goods from Mexico and Canada, and 10% on Chinese products. Although initially delayed, the tariffs are now set to take effect.
Buffett’s criticism echoes concerns from various economists who argue that the new tariffs will increase the cost of everyday goods for American consumers. The announcement has caused turmoil in the stock market, with the S&P 500 experiencing its worst day of the year, dropping nearly 2%. The market response reflects broader uncertainty about the long-term effects of Trump’s tariff policies.
Buffett also noted Berkshire Hathaway’s significant investment in Treasury bills, viewing them as safer alternatives to stocks or corporate bonds. “You always have to ask the question, and then what?” he said, highlighting the potential long-term consequences of tariffs that could lead to sustained price increases for American families.
While Buffett refrained from commenting on Elon Musk’s relationship with the Trump administration, he emphasized that his focus remains on the broader economic ramifications of trade policies.
With the tariffs set to raise the price of goods like electronics, food, and vehicles, they are expected to have far-reaching consequences, potentially driving up costs for consumers and reshaping global trade dynamics in the years ahead.
Sorry to say it …but he makes a very good point . For the average person , it will not be good . I’m not sure of what the President has in mind .
This is bad policy. I haven’t heard any independent economists support them. The only people supporting them are people from the Trump administration. Stocks are getting thrashed and prices are going to start increasing soon. We will all be paying higher prices soon
Trump thinks hes god and can fight the stock market, good luck to him as the only last positive in america was the feeling of feeling comfort wealth effect that we have our retirement IRA 401k in stock market but if that evaporates expect a severe recession, depression. If Biden was president and deliberately tanked the market self destructing like trump , trump would be tweeting the worst president tanked the market, all of a sudden trump who tweeted so many times about stock market is now ignoring stock market and focusing on what? trade war with our friends canada , mexico, I predict more people will just give up working for bupkas and GO ON SNAP , avocados and food gona be a crisis
“Over time, these tariffs act as attacks on goods,” Buffett said
I guess the proofreading department isn’t familiar with the economic concept of different costs acting as “a tax” on goods. (Not attacks on goods)
“Over time, these tariffs act as attacks on goods,” Buffett said…
I guess the proofreading department isn’t familiar with the economic concept of different costs acting as “a tax” on goods. (Not attacks on goods)
Aww. He took, and will be taking, a hit in the stock market? Poor baby.
When he starts to pay taxes something he hadn’t done for decades he can open his mouth
As long as the world has been taxing our products as described lady night it’s time to start charge them equal amount to level the playing field.
I whsih they President made Buffet the kind than Musk. An honest kind caring humble person.
I agree. Whereas I like Trump, I think putting tariffs on, is going to cause problems.
I agree with Warren. Bidenomics was very successful and was helping the middle class white taxpayers. Now the racist Trump comes to power and is destroying our economy before our very eyes.
Why doesn’t this smart man understand that Canada has been ripping America off for years? They tariff almost everything that gets imported from the US. Maybe this topic needs to be explained better. Canada has massive tariffs on most American products. All they have to do is reduce or eliminate them Trump will do the same.