Warren Buffett Calls Trump's Tariff Move an 'Act of War'

Billionaire Warren Buffett has criticized US President Donald Trump's recent tariff decision, describing it as "an act of war." "Tariffs are essentially based on our extensive experience an act of war, to some extent," Buffett stated during an interview with CBS on Sunday.

His comments follow Trump's announcement on Monday of a 25% tariff on goods imported from Canada, Mexico, and China.

"No room left for Mexico or for Canada," Trump said at the White House on Monday. "The tariffs, you know, they're all set. They go into effect tomorrow."

The 94-year-old, often hailed as one of the world’s most successful investors, cautioned that tariffs act as a tax on goods and could ultimately lead to higher consumer prices.

Last month, Buffett disclosed that under his 60-year leadership, Berkshire Hathaway has paid over $101 billion in taxes more than any other company in history.

China, Canada Respond to Tariffs; Mexico Preps Retaliatory Measures

Hours after Trump unveiled new tariffs, both China and Canada struck back with their own retaliatory measures. China’s finance ministry introduced 15% tariffs on key U.S. agricultural products, including cotton, wheat, corn, and chicken, along with 10% tariffs on dairy, fruits, vegetables, pork, beef, and soybeans, all set to take effect on March 10. Additionally, China’s commerce ministry placed 15 U.S. companies on an export control list and added 10 more to its "unreliable entity list."

In parallel, Canada revealed tariffs on $107 billion worth of U.S. goods, set to go into effect Tuesday. Prime Minister Justin Trudeau stated, "Our tariffs will remain in place until U.S. trade actions are reversed."