Warren Buffett calls tariffs an 'act of war,' discusses how they could impact inflation during TV interview

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The “Oracle of Omaha” called tariffs an “act of war” in a television interview.Warren Buffett, chairman of Berkshire Hathaway, was asked about the state of the economy during a recent interview with CBS News.Related video above: Warren Buffett’s Berkshire Hathaway makes history with new market value”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.CBS News senior correspondent Norah O’Donnell then asked Buffett how he thinks tariffs will impact the economy.”Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war to some degree,” Buffett said.Warren Buffett’s impact: How Berkshire Hathaway wealth has changed Omaha. See the story here.The 94-year-old businessman was then asked about how tariffs could impact inflation.”Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay them!” Buffett said with a laugh. “And then what? You always have to ask that question in economics. You always say, ‘And then what?'”CBS News reported that Buffett deflected questions about the current news from Washington and Elon Musk’s efforts to cut the government, but he added, “A majority of any money I manage will always be in the United States.”NAVIGATE: Home | Weather | Local News | National | Sports | Newscasts on demand |

OMAHA, Neb. —

The “Oracle of Omaha” called tariffs an “act of war” in a television interview.

Warren Buffett, chairman of Berkshire Hathaway, was asked about the state of the economy during a recent interview with CBS News.

Related video above: Warren Buffett’s Berkshire Hathaway makes history with new market value

“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.

CBS News senior correspondent Norah O’Donnell then asked Buffett how he thinks tariffs will impact the economy.

“Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war to some degree,” Buffett said.

Warren Buffett’s impact: How Berkshire Hathaway wealth has changed Omaha. See the story here.

The 94-year-old businessman was then asked about how tariffs could impact inflation.

“Over time, they are a tax on goods. I mean, the Tooth Fairy doesn’t pay them!” Buffett said with a laugh. “And then what? You always have to ask that question in economics. You always say, ‘And then what?'”

CBS News reported that Buffett deflected questions about the current news from Washington and Elon Musk’s efforts to cut the government, but he added, “A majority of any money I manage will always be in the United States.”