President Donald Trump reversed course this week after excluding certain Brazilian goods from his so-called reciprocal tariffs, a reversal that left one economist stunned on Saturday over what he called a "remarkable admission." "'I tried a policy, and oh, everyone tells me I want the cost of living to be lower, let me reverse it,'" said economist Justin Wolfers, appearing on CNN's "Table for Five" on Saturday. "The only implication is that he's learned what [we] learned in Econ 101: tariffs raise prices!" Trump had initially levied high tariffs on Brazil in part over its prosecution of former Brazilian President Jair Bolsonaro, who has since been sentenced to nearly three decades in prison over his role in an attempted coup after his election loss in 2023.