Warren Buffett says Trump’s tariffs hurt consumers, “an act of war, to some degree”

Warren Buffett spoke on Trump’s tariffs in an interview with CBS over the weekend:

• could trigger inflation and hurt consumers

• “Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war, to some degree,”

• “Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay ’em!”

• “And then what? You always have to ask that question in economics. You always say, ‘And then what?’”

Chinese media have taken note of the ‘act of war’ part of his comments, unsurprisingly:

This article was written by Eamonn Sheridan at www.forexlive.com.