Tariffs are an act of war, to some degree says Billionaire Warren Buffett

Warren Buffett is known as one of the most legendary investors out there! Have you ever wondered what he thinks about tariffs and how they might shape our economy?

The 94-year-old, known as the Oracle of Omaha, says tariffs are “an act of war, to some degree.”

“Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay ’em!” he said in an interview with “CBS News Sunday Morning” when asked how tariffs would impact inflation. “And then what? You always have to ask that question in economics. You always say, ‘And then what?'”

Warren Buffett, the Berkshire Hathaway CEO and chairman, is worth $161 billion. According to Bloomberg, he’s the world’s seventh-richest person, above Larry Page and Sergey Brin. He’s $22 billion richer than Steve Ballmer and worth more than Michael Dell and any of the three Walton heirs.

When asked about the current economy, Buffett said: “Well, I think that’s the most interesting subject in the world, but I won’t talk, I can’t talk about it, though. I really can’t.” He also didn’t answer further questions about politics.

Since taking office, President Donald Trump has discussed potential tariffs with a number of countries. Many economists have expressed their concerns, suggesting that these tariffs could impact the domestic economy negatively. They believe that any extra costs might ultimately be passed on to American consumers instead of being taken on by foreign exporters.

Have you read?
Countries with the most gold reserves.
World’s Best Public Relations Agencies (Top PR Firms).
Countries with the highest human freedom.
World’s Safest & Most Dangerous Countries For Travelers.
Longest and Shortest Life Expectancies in the World.
World’s Most And Least Stressed Countries.