(5MinNewsBreak.com) – Seeking to take control of the narrative, billionaire Democrat Warren Buffett has accused President Donald Trump of economic warfare.
Specifically, the 94-year-old liberal slammed the president’s tariff policies as “an act of war” that will hurt American consumers.
His comments have been described as yet another attempt by global financial elites to undermine President Trump’s America First trade agenda.
“Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war, to some degree,” Buffett declared.
“Over time, they’re a tax on goods. I mean, the Tooth Fairy doesn’t pay ’em! And then what? You always have to ask that question in economics. You always say, ‘And then what?'” he continued.
Buffett made his remarks during an interview with CBS News’ Norah O’Donnell while discussing a documentary on Katharine Graham.
This was his first public comment on the tariffs President Trump announced would go into effect tomorrow.
They will target Canada, Mexico, and China to combat illegal drug trafficking and unfair manufacturing practices that have devastated American workers for decades.
President Trump’s tariffs include a 25% levy on goods from Canada and Mexico and an additional 10% on Chinese imports on top of previous tariffs.
The president has remained firm in his commitment to protecting American industries and workers.
He stated firmly: “We cannot allow this scourge to continue to harm the USA, and therefore, until it stops, or is seriously limited, the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.”
Although Buffett claims these tariffs will hurt American consumers, he ignores how China has promised to retaliate and how previous weak trade policies have decimated American manufacturing jobs.
The billionaire’s conglomerate, Berkshire Hathaway, has significant global business interests that benefit from cheap foreign labor, which may explain his opposition to President Trump’s America First policies.
The liberal billionaire’s alarmist language about tariffs reveals how seriously the global elite are taking President Trump’s determination to level the playing field for American workers.
Buffett has been selling stocks and hoarding cash over the past year, which some analysts interpret as preparation for market instability as President Trump’s policies begin to shift manufacturing back to American soil.
The National Restaurant Association, another group concerned about its bottom line more than American jobs, has complained that tariffs could cost their sector over $12 billion.
However, these same businesses have benefited from decades of cheap imports while millions of American manufacturing jobs disappeared.
President Trump’s tariffs are designed to bring manufacturing jobs back to America and end China’s economic warfare against the United States.
China’s actions include intellectual property theft, currency manipulation, and flooding markets with cheap goods while blocking American products.
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