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.

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,

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

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.

Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.

While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.