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The legendary Warren Buffett is not one to talk about politics much, but when it comes to President Donald Trump’s tariffs, the Oracle of Omaha isn’t staying quiet. In a rare comment, Warren called them what they really are—an extra tax on everyday products. Speaking to CBS News’ Norah O’Donnell, he compared tariffs to an “act of war” and said consumers, not foreign companies, are the ones who end up paying. “Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war, to some degree,” Warren said. “Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay ’em!” Warren added with a laughter. “And then what? You always have to ask that question in economics. You always say, ‘And then what?’” Berkshire Hathaway CEO Warren Buffett speaks in an interview on April 11, 2023, in Tokyo, Japan. The Asahi Shimbun/Getty Images Trump is not backing down on tariffs. Just last week, he announced new trade measures, hitting Mexico, Canada, and China hard. A 25% tariff on imports from Mexico and Canada will go into effect on March 4, along with an additional 10% tariff on Chinese goods. China is already preparing for retaliation. And right now, the S&P 500 is struggling, barely up 1% this year per data from Google Finance, but at the same time, Warren has been dumping stocks, stacking up cash reserves. Some investors believe this means he’s expecting a market downturn, while others think he’s simply preparing Berkshire Hathaway for its next leader, as Cryptopolitan reported a week ago. When asked about the economy during his CBS interview, Warren dodged the question, saying with a laugh: “Well, I think that’s the most interesting subject in the world, but I won’t talk, I can’t talk about it,…

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Filed under: News - @ March 2, 2025 9:17 pm