Trump, Brazil
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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.
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.
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,
Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.
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.
3don MSN
One of the highest tariffs threatened by President Trump so far is against Brazil, with the president citing a criminal prosecution against Jair Bolsonaro.
The president signaled he would seek to use the threat of steep levies to reorient trade and protect his political allies.
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."
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.