Billionaire investor Warren Buffett criticized President Trump’s tariffs in an interview, calling them “an act of war” that will lead to higher prices for consumers. The comments came just days before tariffs on Canada and Mexico were expected to go into effect.
Trump had delayed the tariffs but confirmed they would be imposed this time, sending stock prices plummeting. Berkshire Hathaway has invested heavily in Treasury bills as a safer alternative to corporate bonds and stocks. Buffett warned that increased prices will affect consumers 10-30 years down the line.
The billionaire also sidestepped questions about Elon Musk’s involvement in Trump’s administration, saying he’d rather not discuss it.
Source: https://www.nytimes.com/2025/03/03/us/politics/buffett-trade-tariffs-trump.html