Investing is one of the core components of building long-term wealth. While it's possible to grow your income and stash more money in the bank, assets like stocks and real estate can multiply your money in the long run.

In this video, Motley Fool contributors Jason Hall and Tyler Crowe share their favorite three lessons from Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) CEO Warren Buffett's latest letter to shareholders.

Warren Buffett, the CEO of Berkshire Hathaway, recently criticized tariffs in an interview with CBS. He called tariffs “an act of war” and explained that they tax goods, leading to higher consumer prices.