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The legendary investor behind Berkshire Hathaway discussed his take on the president’s controversial 25% tariffs on Canada and Mexico.

Legendary Berkshire Hathaway CEO Warren Buffett likened tariffs to an economic "act of war" in an interview with CBS News and said that tariffs ultimately serve as a tax on goods.

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The rebuke of President Trump’s tariff plans came just days before sweeping tariffs on Canada and Mexico were expected to go into effect.

Tariffs are actually, we’ve had a lot of experience with them. They’re an act of war, to some degree,” Buffett said.