Renowned investor Warren Buffett likened President Trump’s planned tariffs on Canada, Mexico, and China to an “act of war.” Speaking in an interview with CBS News, Buffett highlighted the potential repercussions of these tariffs, which include a 25% levy on Canada and Mexico and a 20% tariff on China. Experts caution that these measures could exacerbate inflation, particularly affecting the automotive sector by increasing new car prices by up to $12,000. Buffett emphasized that tariffs ultimately act as a tax on goods, urging consideration of their broader economic impacts. — news from New York Post
