Warren Buffett warns of international fluctuations and risks due to Trump’s customs duties

The largest investor and the larger millionaire in America and among the richest and perhaps in the world, Warren Buffett made statements on the customs duties he imposed and is working to approve more of them represented in the decision of US President Donald Trump, saying that the punitive fees may lead to inflation and harm the consumers, according to the CNBC.

Trump’s “military” fees

“The customs duties have been with him with great experience. It is for me a somewhat military action,” Buffett, the owner of the “Berkshire Hathaway” group.
Pavite owns large companies in the fields of insurance, railway, manufacturing, energy and retail.
“Over time, these taxes become taxes on commodities,” said Buffett.
Also read: Global stock markets shake after Trump’s commercial decisions

Pavite criticizes Trump’s policies

This is the first public statement from the 94 -year -old billionaire on Trump’s commercial policies.
Last week, Trump announced that the 25 % comprehensive customs duties on imports from Mexico and Canada will enter into force on the fourth of March and that China will be imposed on additional customs duties by 10 % on the same date while China has pledged to respond.

Trump’s first term

During the first period of Trump, the Chairman of the Board of Berkshire Hathaway and its CEO expressed his opinion at length in 2018 and 2019 regarding commercial conflicts that broke out, warning that severe movements of Republicans may cause negative consequences in the world.
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Trump’s second period

When Pavit was asked about the current economic situation, he said: “I think this is the most interesting issue in the world, but I will not talk about it I cannot talk about.”
Pavite was in a defensive position over the past year as it quickly got rid of the shares and raised a record cash.
Some read Buffett’s movements to preserve that it is a declining call to the market and the economy, while others believe that it is a bloc of its successor.

Increase market fluctuations

Market fluctuations have recently increased with the growing concerns about the slowdown in the economy and unexpected changes in policies by Trump as well as stock assessments in general. The Standard & Poor’s 500 index increased by about 1% this year.