The legendary investor behind Berkshire Hathaway – which has large businesses in insurance, railroads, manufacturing, energy and retail – spoke before the president moved forward with implementing 25% tariffs on Canada and Mexico, and 20% on China as of midnight Tuesday.

“Actually, we’ve had a lot of experience with them [tariffs],” Buffett said during an interview with CBS News for a documentary on Katherine Graham, the late Washington Post publisher. 

Warren Buffett said President Trump’s tariffs are “an act of war.” AP

“They’re an act of war, to some degree,” he added.

Canada and Mexico had threatened to respond with their own taxes before Trump paused his decision for the levies last month.

Experts have warned the tariffs could reheat inflation, particularly impacting the automotive industry and sending prices for new cars soaring as much as $12,000.

Buffett, the 94-year-old “Oracle of Omaha,” seeming agreed during the CBS News sit-down.

“Over time, they are a tax on goods. I mean, the tooth fairy doesn’t pay ’em!” Buffett said with a laugh. 

“And then what? You always have to ask that question in economics. You always say, ‘And then what?’”

US imports and exports under Trump’s tarrifs. Mike Guillen/NY Post Design

Experts have warned the controversial tariffs could reheat inflation. REUTERS

Buffett has taken on an increasingly conservative investment strategy – dumping stocks and raising a record amount of cash.  REUTERS

Buffett declined to comment on the current state of the economy. 

“Well, I think that’s the most interesting subject in the world, but I won’t talk, I can’t talk about it, though. I really can’t,” Buffett said.

Buffett has adopted an increasingly conservative investment strategy – dumping stocks and raising a record amount of cash. 

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“I’ve been through every emotion from, you know anger, rage, disappointment….guilt..that I let my team lose their jobs,” Reid rambled during a 10-minute Zoom call to the podcast “Win With Black Women” on Sunday.

The left-wing firebrand has been criticized for her remarks about white people, including referring to “white tears,” as well as a statement that white women “did not show up” to vote for former Vice President Kamala Harris in the recent election.

MSNBC host, Joy Reid, was fired on Sunday, ending her five year-old show “The ReidOut.” YouTube / Win With Black Women

Her attacks led President Trump to cheer her ouster, calling Reid a “mentally obnoxious racist.”

But Reid remained defiant on the podcast, which was watched by some 10,000 viewers. 

“I’m not sorry. I am not sorry that I stood up for those those things,” Reid said as she ticked off a list of issues her show, “The ReidOut,” regularly covered, including Black Lives Matter, Asian Americans “being targeted,” Gaza and immigrants. 

“But in the end, where I really land… is just gratitude. Just pure gratitude and gratitude. Not just because people would take the time to get on a call like this or to take care of me. But also that my show had value.”

Reid was spotted wearing a fur-like coat and green baseball cap as she ducked out of her $1 million Maryland home in exclusive photos taken by The Post shortly after being fired Sunday.

Reid remained defiant during her appearance on the podcast. “Win With Black Women.” YouTube / Win With Black Women

Reid was photographed on Sunday outside her Maryland home. Aristide Economopoulos for NY Post

Reid’s ouster was part of a broader revamp at the struggling cable station, which shuffled a number of other anchors and canceled shows hosted by Ayman Mohyeldin, Katie Phang and Jonathan Capehart. 

The overhaul comes as new MSNBC President Rebecca Kutler, whose interim tag was removed this month, puts her stamp on the network after the exit of Rashida Jones.

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“Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden told the “More Perfect Union” podcast.

“I don’t know how you look your constituents in the eye and know because of the job they gave you, gave you an inside track to make more money,” Biden said, adding: “I think we should be changing the law.”

President Biden said he supports a ban on members of Congress and their spouses trading stock while in office. AP

The interview was conducted by Faiz Shakir, a political adviser for Sen. Bernie Sanders (I-Vt.), and published by A More Perfect Union, a pro-labor advocacy and journalism organization.

It’s unclear what impact Biden’s statement could have, coming only a month before his term ends.

Biden had previously declined to take a position on congressional stock trading.

His fellow Democrat, former House Speaker Nancy Pelosi, initially opposed proposals that lawmakers and their spouses be banned from trading stocks.

Pelosi, who is married to venture capitalist Paul Pelosi, insisted that her husband makes stock trades independently and that she has no involvement. She said in December 2021 that there is a “free market” that members of Congress “should be able to participate in.”

Speculation about Pelosi’s future in Congress has ramped up in recent days after the 84-year-old congresswoman from San Francisco underwent hip replacement surgery in Europe earlier this week.

Lawmakers have often flouted lax rules that govern stock trading while serving in office. UPI

Pelosi suffered a fall while on a trip to Luxembourg over the weekend, breaking her hip.

Financial disclosure forms showed that Paul Pelosi, who is said to be worth in excess of $275 million, sold 2,000 shares of Visa stock worth between $500,000 and $1 million on July 1. In September, the Justice Department announced it was suing Visa for alleged antitrust violations.

Since 2021, Pelosi has softened her stance amid backlash, coming out in support of strengthening an existing law, the Stock Act, which requires lawmakers to disclose their stock sales and purchases.

She has also called for extending stock trading disclosure requirements to members of the judiciary, while stiffening penalties for members of Congress who flout the rules.

Relations between Biden and Pelosi, who were once close, are said to have been ruptured after the former speaker played a key role in nudging the president from the race earlier this year due to concerns over his age and mental acuity.

Pelosi told news outlets that she intended for the Democrats to stage a quick primary process following Biden’s decision to step aside, but his swift endorsement of Vice President Kamala Harris frustrated those plans.

Biden’s support for a ban marks somewhat of a pivot for the president, who has been largely noncommittal on the issue.

When Jen Psaki served as White House press secretary two years ago, she said Biden would “let members of leadership in Congress and members of Congress determine what the rules should be.”

Biden has long declined to take a position on the issue. His fellow Democrat, former House Speaker Nancy Pelosi, initially opposed a sweeping ban. AFP via Getty Images

A bipartisan proposal to ban trading by members of Congress and their families has dozens of sponsors, but it has not received a vote.

Although lawmakers are required to disclose stock transactions exceeding $1,000, they’re routinely late in filing notices and sometimes don’t file them at all.

Shakir said he admired Biden for having not “gone in early on Google, and Boeing, and Microsoft, and Nvidia, and, you know, Amazon” while he was a US senator from Delaware, a position he held for 36 years.

Pelosi is married to venture capitalist Paul Pelosi. The couple is said to have a net worth in excess of $275 million. Chris Kleponis – CNP / MEGA

Biden said he lived on his Senate salary instead of playing the stock market.

Trading in Congress has long been criticized by government watchdogs, who say the access to nonpublic information creates a temptation for lawmakers to prioritize their own finances over the public good.

Public anger has mounted since the start of the coronavirus pandemic, when some lawmakers were caught buying and selling millions of dollars worth of stock after being warned about the coming disruption from the virus.

With Post wires

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