Warren Buffett Just Issued a Stark Warning to President Trump About the Impact of Tariffs. It Couldn't Be Any Clearer.
It's not too often that 94-year-old Warren Buffett comments on political matters. After all, doing so is unlikely to create shareholder value for Buffett's company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B). However, any time Buffett has something to say on the state of markets, the economy, or politics, you know the world will be listening because Buffett is one of the most influential investors of all time.Additionally, because he has been investing for well over six decades and has been through multiple market cycles, Buffett has seen it all. Recently, during a rare interview with the CBS News show Sunday Morning, Buffett made his feelings about tariffs known, and he didn't hold back. Buffett issued a stark warning to President Donald Trump on the impact of tariffs that couldn't be any clearer.The Trump administration last week removed a temporary pause on an earlier declaration and implemented 25% tariffs on Canadian and Mexican imports and an additional 10% tariff on Chinese imports (there was already a 10% tariff in place), starting a trade war that has resulted in retaliatory tariffs by those three countries. However, shortly after implementing the tariffs, Trump on March 6 once again paused Canadian and Mexican tariffs on imports covered under the United States-Mexico-Canada Free Trade Agreement.Continue reading
It's not too often that 94-year-old Warren Buffett comments on political matters. After all, doing so is unlikely to create shareholder value for Buffett's company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B). However, any time Buffett has something to say on the state of markets, the economy, or politics, you know the world will be listening because Buffett is one of the most influential investors of all time.
Additionally, because he has been investing for well over six decades and has been through multiple market cycles, Buffett has seen it all. Recently, during a rare interview with the CBS News show Sunday Morning, Buffett made his feelings about tariffs known, and he didn't hold back. Buffett issued a stark warning to President Donald Trump on the impact of tariffs that couldn't be any clearer.
The Trump administration last week removed a temporary pause on an earlier declaration and implemented 25% tariffs on Canadian and Mexican imports and an additional 10% tariff on Chinese imports (there was already a 10% tariff in place), starting a trade war that has resulted in retaliatory tariffs by those three countries. However, shortly after implementing the tariffs, Trump on March 6 once again paused Canadian and Mexican tariffs on imports covered under the United States-Mexico-Canada Free Trade Agreement.
