Warren Buffett breaks silence on Trump’s planned tariffs: ‘Act of war, to some degree’

 Warren Buffett broke his silence on President Trump’s trade policies, comparing his planned tariffs on Canada and Mexico to an “act of war.”

The legendary investor behind Berkshire Hathaway – which has large businesses in insurance, railroads, manufacturing, energy and retail – spoke before the president moved forward with implementing 25% tariffs on Canada and Mexico, and 20% on China as of midnight Tuesday.

“Actually, we’ve had a lot of experience with them [tariffs],” Buffett said during an interview with CBS News for a documentary on Katherine Graham, the late Washington Post publisher. 

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Warren Buffett said President Trump’s tariffs are “an act of war.”AP

“They’re an act of war, to some degree,” he added.

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Canada and Mexico had threatened to respond with their own taxes before Trump paused his decision for the levies last month.

Experts have warned the tariffs could reheat inflation, particularly impacting the automotive industry and sending prices for new cars soaring as much as $12,000.

Buffett, the 94-year-old “Oracle of Omaha,” seeming agreed during the CBS News sit-down.

“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?’”

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US imports and exports under Trump’s tarrifs.Mike Guillen/NY Post Design

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Experts have warned the controversial tariffs could reheat inflation.REUTERS

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Buffett has taken on an increasingly conservative investment strategy – dumping stocks and raising a record amount of cash. REUTERS

Buffett declined to comment on the current state of the economy. 

“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 adopted an increasingly conservative investment strategy – dumping stocks and raising a record amount of cash. 

https://nypost.com/2025/03/03/business/warren-buffett-breaks-silence-on-trumps-planned-tariffs-act-of-war/

What DOGE is really learning

 

By Monica Showalter

After six weeks of uncovering untold horrors of waste, fraud and abuse in government through the DOGE project, Elon Musk spoke with Joe Rogan over the weekend about what he has learned from it:

pic.twitter.com/6kreKPOn0N

— Elon Musk (@elonmusk) March 2, 2025

According to the RealClearPolitics transcript:

ELON MUSK: At the heart of the sort of like, why is the Democrat propaganda machine so fired up to destroy me? That's the main reason. The main reason is that, is that, entitlements fraud, that includes, like, Social Security, disability, Medicaid, entitlements fraud for illegal aliens is what is serving as a gigantic magnetic force to pull people in from all around the world and keep them here.

Basically, if you pay people, at a standard of living that is above 90% of Earth, then you have a very powerful incentive for 90% of Earth to come here and to stay here. But if you if you end the illegal alien fraud, then you that you turn off that magnet, and they leave. And they they stop coming, and the and the ones that are here, many of them will simply leave.

And if that happens, a mass they will lose a massive number of Democratic voters.

 

This corresponds to numerous observations he's made as he's gone along in the DOGE process about massive numbers of Social Security going to places like Ukraine and other unlikely retirement destinations.

Some of the findings are described here:

JUST IN: Stephen Miller says foreign fraud rings are setting up fake Social Security numbers and stealing billions of dollars from the United States.

The news comes as Elon Musk's DOGE is now investigating the Social Security database.

"There's a massive amount of fraud in… pic.twitter.com/2Qb0R4SYDj

— Collin Rugg (@CollinRugg) February 17, 2025

And other unsavory discoveries made by DOGE here:

Elon Musk and DOGE found some data on the age ranges of people receiving Social Security. Do you find anything surprising? pic.twitter.com/jZ1xPw8x9v

— Foreign Patriot (@4NPatriot) February 18, 2025

The fact that there has been little to no effort to correct this, rooting out fraud to ensure that the trust fund is available to those who paid into it as they retire, is probably among the things that made Musk draw the conclusion that it was seen as a desireable thing by someone in political power, notably the Democrats who used Social Security and other benefits as a magnet to draw millions of illegals into the U.S. to create Democrat votes.

Basically, if you pay people, at a standard of living that is above 90% of Earth, then you have a very powerful incentive for 90% of Earth to come here and to stay here.

 

Which explains the intensity of Democrat efforts to stop Musk and keep the benefit packages flowing to illegal border crossers from abroad. Cut the unearned benefits, and in all likelihood, millions will return home, or seek a free ride in Europe, which also is seeking to replace its electorate.

It's a cynical, ugly picture, but Musk has gone through thousands of records and seen thousands of day-by-day reports about where the leakage is, where the waste and fraud is, and where the sensitive spots are for those who benefit from it. He calls this entitlements fraud "the heart of it."

That's a critical mission that may well save the shambles we have of government. The reality, as he states, is that the U.S. is going bankrupt from this horrendous harvesting and thievery.

Thank goodness we have DOGE to stop the flood. How did we get so lucky?

https://www.americanthinker.com/blog/2025/03/what_doge_is_really_learning.html

Canada's retaliatory tariffs on US goods to start Tuesday, PM Trudeau says

 Canada will impose 25% tariffs on C$155 billion ($107 billion) worth of U.S. goods from Tuesday if U.S. President Donald Trump’s administration follows through with its proposed tariffs on Canadian goods, Prime Minister Justin Trudeau said on Monday.

Canada will slap 25% tariffs on C$30 billion worth of U.S. goods from Tuesday, while tariffs on the remaining C$125 billion of products will come into effect in 21 days, Trudeau said in a statement.

"Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures," Trudeau added.

https://www.investing.com/news/commodities-news/canadas-retaliatory-tariffs-on-us-goods-to-start-tuesday-pm-trudeau-says-3904500