Warren Buffett compared President Donald Trump’s planned tariffs on Canada and Mexico to an “act of war.” The legendary investor behind Berkshire Hathaway spoke out before Trump went on to implement 25% tariffs on Canada and Mexico,

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

Warren Buffett says tariffs are “an act of war, to some degree.” Berkshire Hathaway’s chairman and chief executive said the country has had a lot of experience with tariffs, and that over time they are a tax on goods.