Warren Buffett calls Trump’s tax on goods, says “the fairy of the teeth does not pay”

Legendary investor Warren Buffett The president rarely commented on Donald Trump Tariffs, claiming that criminal duties can cause inflation and harm consumers.

“Tariffs are actually, we had a lot of experience with them. They are to some extent an act of war, “said Buffett, whose conglomerate Berkshire Hathaway He has large companies in the field of insurance, railway, production, energy and retail. He was considered In an interview with CBS News “Norah O’Donnell for a new document about the deceased Washington Post, Katharine Graham.

“Over time, they are a tax on goods. I mean that the fairy of teeth does not pay them! ” Buffett said with a laugh. “And then what? You always have to ask this question in economics. You always say: “And then what? “

This is the first public attention to the 94-year-old “Oracle of Omaha” about Trump’s commercial policy. Last week, Trump announced it Huge 25% of tariffs for imports from Mexico and Canada It will enter into force on March 4 and that China will be burdened with an additional 10% tariff on the same day. China vowed to take revenge.

During the first term of Trump, the chairman and general director of Berkshire Extended in 2018 and 2019 On commercial conflicts that broke out, warning that the aggressive movements of Republicans can cause negative consequences around the world.

When asked about the current state of the economy by CBS, Buffett refrained from direct commenting.

“Well, I think it’s the most interesting topic in the world, but I won’t talk, I can’t talk about it. I really can’t, “said Buffett.

Buffett has been defensive mode over the past year quickly abandoned shares and collected a record amount of cash. Some read the conservative Buffetta movements as a bear for the market and the economy, while others believe that they are preparing a conglomerate for their successor by converting the position and building cash.

The market volatility has recently increased when the fears grew about a slow economy, unpredictable changes in politics from Trump, as well as general wrestling valuations. The S&P 500 increased by almost 1%this year.