Pressed by Karl about Trump’s recent criticism of Federal Reserve Chair Jerome Powell, Hassett echoed the White House’s criticism of recent cost overruns in the renovation of the Fed’s Washington, D.C., headquarters.

Trump’s pledge to place a 50 percent tariff on all imports from the South American nation will drive up the prices of coffee — and orange juice.

Kevin Hassett appeared to deflect questions on how the new tariff will benefit America despite the U.S. having a trade surplus with the South American country.

In Kerr County, Trump was greeted by Gov. Greg Abbott, who on Friday announced the federal government updated Trump's disaster declaration to include more counties. Abbott said the move "will provide critical assistance to Texans and communities impacted by the devastating flooding."

The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.

Donald Trump's economic adviser, Kevin Hassett, struggled to justify the rationale for “punishing” new tariffs on imports from Brazil during an appearance on ABC’s This Week.Host Jonathan Karl questioned the rationale behind the new 50 percent tax on Brazilian goods,

One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.

Financial markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30% rate for the European Union and Mexico effective Aug.