Warren Buffett, the legendary investor, denounced tariffs as ‘an act of war,’ delivering a stark rebuke to Trump's reckless policies. Undeterred, Trump slapped 25% tariffs on Canada and Mexico, a move that could fuel trade tensions and drive up costs for Americans.
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00:00How do you think tariffs will affect the economy?
00:03I mean, tariffs are actually, we've had a lot of experience with them.
00:07They're an act of war to some degree.
00:10How do you think tariffs will impact inflation?
00:14Over time, there are attacks on goods. I mean, the tooth fairy doesn't pay up.
00:22You always have to just, and then what? You always have to ask that question in economics.
00:26Always say, and then what?
00:28So is there an answer for that? When people say, you know, inflation persists,
00:32consumer prices keep going up, when's the end in sight?
00:35Well, prices will be higher 10 years from now and 20 years from now and 30 years from now.
00:40And what do you think about what's happening in Washington right now?
00:43I think it's Washington. Technology changes things, all kinds of things, but
00:50Washington is Washington. And the problem with politics is that
00:54you tend to have to make tiny compromises as you go along.