The US President has created a stir in the whole world by launching the Global Tariff War and its clear effect is being seen on the stock markets. The most targets are Canada, Mexico and China. Meanwhile, the Workshire Hathaway Company and veteran investor Warren Buffett has strongly criticized Trump’s tariff policy and called it a war -like step.
Trump’s move may increase inflation
Warren Buffett, who is in the list of world top billionaires, expressed deep concern over US President Donald Trump’s tariff policy, saying that his step could prove to be inflation and directly affect the common consumers. In an interview given to a channel, the legendary investor has described the tariff war of Donald Trump as a war -like step. He said that tariff is a type of tax on goods, which eventually affects consumers.
It is important to understand its effect on economy
Warren Buffett said in the interview that with the passage of time, tariffs directly make tax on goods and customers have to pay it. He said that while taking any such step, it is very important to understand the impact on the country’s economy in its longitarm. In economics, this question should always be asked, ‘And then what?’ Meaning what will happen next with this step and how will it affect?
Buffet’s statement between tariff war
According to the Bloomberg Billioniers Index, Warren Buffet, who is on the seventh position in the world’s rich list with a net worth of $ 155 billion, came at a time, while Donald Trump has announced a high tariff of 25% on imported goods from Mexico and Canada, while 10% of additional tariffs on China have announced. Since then, the global war has started and China and Canada have also retaliated on America.
Mexico retaliation on US after Canada-China
It is worth noting that after Donald Trump has announced a tariff on Canada and China, both these countries retaliated and announced tariffs on goods from America. China has announced to impose 10 to 15 per cent of additional tariffs on several US products and this tariff will come into effect from March 10. These will include major American exports including chicken, wheat, maize and cotton,
On the other hand, Canada said that it would impose counter -tariffs on additional imports of $ 125 billion Canadian dollars from the US. Not only this, Mexico has also joined it and has announced to impose a counter -tariff. According to reports, President Claudia Sheenbam said that it will be announced on Sunday.