CNN —
Tariffs might be President Donald Trump’s favorite word. To legendary investor Warren Buffett, there is less to be excited about.
“Tariffs are actually — we’ve had a lot of experience with them — they’re an act of war, to some degree,” Buffett said in an interview with CBS that aired on Sunday.
The Berkshire Hathaway CEO and billionaire investor said tariffs over time serve as a tax on goods and could raise prices for consumers.
“The Tooth Fairy doesn’t pay ‘em!” Buffett said with a laugh.
Tariffs disrupt
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