US President Donald Trump plans to impose tariffs on Canada and Mexico, as well as additional tariffs on China, starting March 4. Legendary investor Warren Buffett has weighed in on the issue, calling the tariffs an “act of war” to some extent. In a CBS interview, Buffett compared tariffs to taxes, saying they are a burden on goods and economies.
Buffett expressed concerns about the impact of the tariffs on the global economy, similar to his previous statements in 2018 and 2019. He urged caution and responsible spending by the US government, highlighting the importance of helping those who face hardship without fault. Buffett also emphasized the need for wisdom and vigilance in maintaining a stable currency.
Trump is sticking to his plan, which includes a 25% tax on imports from Mexico and Canada and an additional 10% tax on goods from China. This move comes after recent trade actions targeting these countries.
Source: https://www.financialexpress.com/world-news/tooth-fairy-doesnt-pay-them-warren-buffett-breaks-silence-on-trumps-tariffs-calls-them-an-act-of-war/3765118