Warren Buffett criticized tariffs as detrimental to consumers, equating them to acts of war in an interview where he analyzed their inflationary effects. He highlighted that tariffs would force consumers to face significantly higher prices, stating that the burden won't be alleviated by any external factors. This criticism comes as President Trump announces tariffs on imports from Canada, Mexico, and China, causing stock market turmoil. Buffett also emphasized the long-term impact of tariffs, stating that prices will continue to rise over decades, reflecting the profound economic implications they pose.
Over time they're attacks on goods, Mr. Buffett said, responding to a question about their inflationary impact, suggesting that consumers will face higher prices as a result.
You always have to ask that question in economics: And then what? Mr. Buffett said in the interview. Prices will be higher 10 years from now, 20 years from now, 30 years from now.
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