Legendary investor Ren Warren Buffett recently expressed his views on US President Donald Trump's tariff policy, calling it a "kind of warfare" in an interview with CBS News reporter Norah O'Donnell for the documentary "Becoming Katharine Graham". The documentary is now available on Amazon Prime and tells the extraordinary life of the late publisher of The Washington Post, Katharine Graham.
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ToggleRen Buffett: Tariffs are a kind of warfare to some extent
In the interview, Ren Buffett said: "Tariffs, we've had a lot of experience with them. They're a kind of warfare to some extent." He further explained that tariffs will ultimately become a commodity tax, driving up prices and burdening consumers, and may also trigger inflation. He jokingly said: "The Tooth Fairy won't pay for it!" to imply that tariffs will ultimately be passed on to consumers, leading to inflation.
As the chairman of Berkshire Hathaway, a group that covers insurance, railways, manufacturing, energy and retail, Ren Buffett has a deep understanding of the impact of trade policies. He emphasized that in economics, one must always ask "then what?", meaning that the chain reaction of tariffs may go far beyond expectations.
In fact, Ren Buffett rarely gives interviews and seldom publicly comments on politics, but his remarks this time echo his past political stance. During the 2016 US presidential election, he publicly supported Democratic candidate Hillary Clinton and expressed doubts about Trump's economic policies. Now, his criticism of tariffs seems to continue his concerns about protectionism and is closely related to the current US economic situation.
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