Billionaire investor Warren Buffett likened tariffs to an “act of war” and said that over time they will act as a tax on goods.

Buffett has previously expressed concerns about tariffs, opposing Trump's trade proposals during the 2016 campaign, when he called them "a very bad idea"

The legendary Warren Buffett is not one to talk about politics much, but when it comes to President Donald Trump’s tariffs, the Oracle of Omaha isn’t staying quiet. In a rare comment, Warren called them what they really are—an extra tax on everyday products.