Legendary investor Warren Buffett criticized planned U.S. tariffs on international trade partners, noting they may harm consumers. Speaking to CBS News, Buffett described tariffs as “an act of war, to some degree” and emphasized they are ultimately a tax on goods. He remarked, “The Tooth Fairy doesn’t pay ’em!” This marks Buffett’s first comment on President Donald Trump’s trade policies, which include 25% duties on imports from Mexico and Canada, and increased tariffs on Chinese goods. Both Canada and Mexico have prepared retaliatory measures, while China has vowed to respond. Buffett previously warned tariffs could reduce trade dramatically and harm the global economy. Despite selling over $134 billion in stocks last year, Buffett remains committed to investing primarily in American companies. — news fromQuartz
