Legendary investor Warren Buffett has expressed concerns over tariffs, likening them to an act of war during a CBS interview. The Berkshire Hathaway CEO highlighted that tariffs ultimately act as a tax on goods, potentially leading to increased consumer prices. This comes as President Donald Trump moves forward with imposing tariffs on major U.S. trading partners, including Canada, Mexico, and China. Economists warn these tariffs could raise costs for everyday goods reliant on international supply chains. Buffett emphasized the importance of considering the broader implications of tariffs, advocating for a thoughtful approach encapsulated by the question, “And then what?” The ongoing tariff disputes have sparked fears of a trade war reminiscent of Trump’s first term, with retaliatory measures from China and plans for reciprocal tariffs targeting the European Union. Buffett’s critique of tariffs aligns with his previous warnings about their negative economic impact. Despite his cautionary stance, Berkshire Hathaway reported record operating earnings and share prices last week. — news from CNN
