Warren Buffett, the famed investor behind Berkshire Hathaway, offered a sharp rebuke of President Donald Trump’s 25-percent tariff on goods from Mexico and Canada set to take effect Tuesday. “They’re an act of war to some degree,

The US government imposed a 25 per cent tariff on imports from Canada and Mexico on Tuesday, while increasing tariffs on Chinese goods from 10 per cent to 20 per cent

"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 has criticised Trump’s new tariffs on Canada, Mexico, and China, calling them “an act of war.” He warned that tariffs act as a tax on goods, raising consumer prices.

Donald Trump on Monday said that Canada and Mexico can't avert his sweeping tariffs, due to come into effect on Tuesday.

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

Stocks were falling again Monday on tariff news. Add consumer confidence and jobless claims data into the mix, and it appears volatility will be the norm in the short term.