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Warren Buffett labeled Trump's tariffs on Canada, Mexico, and China as "an act of war," warning they could significantly raise prices on a wide range of goods, including vehicles and food. The tariffs, imposing a 25% levy on Canadian and Mexican imports and 20% on Chinese goods, are expected to increase production costs for vehicles by up to $12,000, potentially leading to job cuts and reduced production in the automotive industry. As a result, American consumers will face higher prices across various sectors.
Warren Buffett criticized President Trump's planned tariffs on Canada, Mexico, and China, labeling them as an "act of war." He emphasized that tariffs ultimately act as a tax on goods, warning of potential inflation impacts, particularly in the automotive sector. Despite his concerns, Buffett refrained from commenting on the current economic state.
Warren Buffett described President Trump's tariffs as an "act of war" during a CBS News interview, warning they could lead to inflation. He emphasized that tariffs act as a tax on goods, predicting higher prices in the long term as the U.S. prepares to impose 25% tariffs on Mexico and Canada and double tariffs on China to 20%.
Warren Buffett reflects on his friendship with the late Katharine Graham, the first female CEO of a Fortune 500 company, who transformed the Washington Post during her tenure. Despite her initial self-doubt, she made pivotal decisions, including publishing the Pentagon Papers and supporting investigative journalism during Watergate. Their bond began when Buffett invested in the Post, providing her with the reassurance she needed to navigate the challenges of leadership in a male-dominated industry.
Katharine Graham
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