Warren Buffett breaks silence on Trump's tariff plans: 'An act of war'

Warren Buffett, the 94-year-old investment icon and longtime economic sage, isn't one to wade into political debates. But the so-called 'Oracle of Omaha' made some critical comments in a recent interview.

In a rare public rebuke, Buffett criticized President Donald Trump's sweeping tariff plan.

'Tariffs are actually, we've had a lot of experience with them,' he said in an interview on CBS New. 'They’re an act of war, to some degree.

'Over time, they are a tax on goods. I mean, the tooth fairy doesn’t pay 'em!'

Buffett's comments come as Trump barrels toward a negotiated deadline for imposing 25 percent tariffs on all Canadian and Mexican imports — a move that will likely spark a trade war.

The President originally planned to launch the tariffs in early February but struck a last-minute deal to delay them by a month. Instead, he hit Chinese imports with a 10 percent tariff.

The economic grace period for Canada and Mexico ends tomorrow. Another 10 percent tariffs will launch on Chinese goods.

Countries have vowed to retaliate, likely with their own slate of tariffs that will make American goods less competitive in global trades.