Warren Buffett warns Trump: Tariffs are ‘an act of war’— and the tooth fairy won’t save you

US President Donald Trump has announced significant tariffs on Canada, China, and Mexico. Warren Buffett described the tariffs as an 'act of war'. In response, Canada and Mexico plan to impose counter-tariffs. Trump also increased tariffs on China, with Beijing threatening retaliation. The situation is likely to escalate trade tensions globally.