Legendary investor Warren Buffett discussed the economic impact of tariffs in a rare media interview published on Sunday.
Buffett was interviewed by CBS News’ Norah O’Donnell as part of a documentary on Washington Post publisher Katharine Graham, and the legendary Berkshire Hathaway CEO talked about the economic impact of the Trump administration’s pending tariffs.
“Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war to some degree,” Buffett said.
“Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay ’em!” Buffett jokingly said. “And then what? You always have to ask that question in economics. You always say, ‘And then what?'”