<p>Billionaire investor Warren Buffett has finally spoken on Donald Trump's tariffs strategy, calling it an 'act of war.' In a televised interview, Buffett highlighted the negative consequences of tariffs, warning that they ultimately act as a tax on goods that consumers 'must bear.'</p>
<h2>Tuesday Tariffs</h2>
<p>Tuesday marks the day when Trump's tariffs on goods imported from Canada and Mexico take effect. Additionally, tariffs on Chinese imports will rise from 10 to 20 per cent. Canada has already announced retaliatory tariffs on the US, while China is planning to target US agricultural goods. Economists predict this will increase prices on everyday items like cars and electronics, making them equally unbearable for American consumers.&nbsp;</p>
<p>Buffett, known for his cautious approach to economics, has long been a critic of protectionist policies. Buffett has long been a critic of Trump's trade policies, calling it a 'very bad idea' in 2016. Despite the tariffs, Buffett reaffirmed his confidence in the US economy, calling it the 'best place' for investment.</p>
<p>Meanwhile, US Commerce Secretary Howard Lutnick dismissed it as 'silly, suggesting that tariffs could eventually replace the IRS. However, the administration has yet to address broader economic concerns raised by economists and the weak consumer data from February.&nbsp;</p>

Business & Economy, Buffett, known for his cautious approach to economics, has long been a critic of protectionist policies. Buffett has long been a critic of Trump's policies

Billionaire investor Warren Buffett has finally spoken on Donald Trump's tariffs strategy, calling it an 'act of war.' In a televised interview, Buffett highlighted the negative consequences of tariffs, warning that they ultimately act as a tax on goods that consumers 'must bear.' Tuesday Tariffs Tuesday marks the day when Trump's tariffs on goods imported from Canada and Mexico take effect. Additionally, tariffs on Chinese imports will rise from 10 to 20 per cent. Canada has already announced retaliatory tariffs on the US, while China is planning to target US agricultural goods. Economists predict this will increase prices on everyday items like cars and electronics, making them equally unbearable for American consumers. Buffett, known for his cautious approach to economics, has long been a critic of protectionist policies. Buffett has long been a critic of Trump's trade policies, calling it a 'very bad idea' in 2016. Despite the tariffs, Buffett reaffirmed his confidence in the US economy, calling it the 'best place' for investment. Meanwhile, US Commerce Secretary Howard Lutnick dismissed it as 'silly, suggesting that tariffs could eventually replace the IRS. However, the administration has yet to address broader economic concerns raised by economists and the weak consumer data from February.

Warren Buffett calls Trump tariffs 'an act of war'

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Warren Buffett calls Trump tariffs 'an act of war'