XPost: alt.law-enforcement, or.politics   
   From: hotmail@hotmail.edu   
      
   Warren Buffett calls Trump's tariffs a tax on goods, says 'the tooth fairy   
   doesn't pay 'em'   
      
   Warren Buffett at a press conference during the Berkshire Hathaway   
   Shareholders Meeting on April 30, 2022.   
      
   Legendary investor Warren Buffett made a rare comment on President Donald   
   Trump's tariffs, saying punitive duties could trigger inflation and hurt   
   consumers.   
      
   "Tariffs are actually, we've had a lot of experience with them. They're an   
   act of war, to some degree," said Buffett, whose conglomerate Berkshire   
   Hathaway has large businesses in insurance, railroads, manufacturing,   
   energy and retail. He made the remarks in an interview with CBS News' Norah   
   O'Donnell for a new documentary on the late publisher of The Washington   
   Post, Katharine Graham.   
      
   "Over time, they are a tax on goods. I mean, the tooth fairy doesn't pay   
   'em!" Buffett said with a laugh. "And then what? You always have to ask   
   that question in economics. You always say, 'And then what?'"   
      
   This marks the first public remark from the 94-year-old "Oracle of Omaha"   
   on Trump's trade policies. Last week, Trump announced that the sweeping 25%   
   tariffs on imports from Mexico and Canada will go into effect March 4 and   
   that China will be charged an additional 10% tariff on the same date. China   
   has vowed to retaliate.   
      
   During Trump's first term, the Berkshire chair and CEO opined at length in   
   2018 and 2019 about the trade conflicts that erupted, warning that the   
   Republican's aggressive moves could cause negative consequences globally.   
      
   When asked about the current state of the economy by CBS, Buffett refrained   
   from commenting on it directly.   
      
   "Well, I think that's the most interesting subject in the world, but I   
   won't talk, I can't talk about it, though. I really can't," Buffett said.   
      
   Buffett has been in a defensive mode over the past year as he rapidly   
   dumped stocks and raised a record amount of cash. Some read Buffett's   
   conservative moves as a bearish call on the market and the economy, while   
   others believe he's preparing the conglomerate for his successor by paring   
   outsized positions and building up cash.   
      
   Market volatility has ramped up as of late as concerns grew about a slowing   
   economy, unpredictable policy changes from Trump as well as overall stock   
   valuations. The S&P 500 is up just about 1% this year.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)