Warren Buffett calls Trump’s tariffs for goods tax, says “The fairy of the teeth does not pay them”

Legendary investor Warren Buffett made a rare comment on the president Donald Trump Tariffs, saying that criminal obligations can cause inflation and harm consumers.

“Tariffs are actually, we had a lot of experience with them. To some extent they are an act of war,” says Buffett, whose conglomerate Berkshire Hathaway There are large businesses in insurance, railway line, production, energy and retail trade. He made the remarks In an interview with CBS News’ Norah O’Donnell For a new documentary about the late publisher of The Washington Post, Katharine Graham.

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

This marks the first public remark from the 94-year-old Oracle of Omaha on Trump’s trade policies. Trump announced this last week Increased 25% import tariffs from Mexico and Canada It will enter into force on March 4 and China will be charged an additional 10% tariff on the same date. China swore to avenge.

During Trump’s first term, the chairman and CEO of Berkshire Mentioned long in 2018 and 2019 Regarding the commercial conflicts that broke out, warning that Republicans’ aggressive movements can have negative effects worldwide.

When asked about the current state of the CBS economy, Buffet refrained from commenting directly.

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

Buffett has been in a defense regime in the last year as he Quickly discarded stocks and raised a record amount of moneyS Some read the conservative movements of Buffett as a bear call on the market and the economy, while others believe that he prepares the conglomerate for his heir by processing more positions and building money.

Market variability has increased late as fears have increased for the delayed economy, unpredictable changes to Trump policy, and general stock valuation. The S&P 500 has only increased about 1% this year.