National Economic Council Director Kevin Hassett defended Donald Trump’s newly unveiled 50% tariff against Brazil on ABC News' "This Week."

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

The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories.

Critics say the tariff on Brazil could further erode the Trump administration's credibility as it pursues an aggressive trade agenda.

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

President Donald Trump is singling out Brazil for import taxes of 50%, citing its treatment of its former president, Jair Bolsonaro.

Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.

President Donald Trump set out early in his second term to fulfill a decades-long desire of reshaping US trade with the world, but the main outcomes so far have been discord and uncertainty. - 'Politically complicated' - "The shift in his rhetoric from 'there is no cost -- the foreigners pay the tariffs' to 'there is a short term cost,