TACO or Trump Always Chickens Out. That’s what Wall Street has taken to calling United States President Donald Trump’s now frequent tariff impositions and subsequent reductions, followed by waivers.
First coined by The Financial Times’ Robert Armstrong, the term has been picked up for use by Wall Street traders, who see large sell-offs each time Donald Trump’s tariffs are announced, followed by recovery when the demand is cut down or removed, according to reports by AP and Bloomberg.
So, when asked about his thoughts on Wall Street calling his tariffs TACO trade, a visibly offended Donald Trump went on a defensive rant, ending with reprimanding the reporter: “Don’t ever say what you said. To me, that’s the nastiest question.”
How did Donald Trump Respond?
“Oh, I never heard that… because I reduced China down to a 100, then down to another number, and because i gave the European Union 50 percent tax… You call that chickening out? It’s called negotiation. I set a ridiculous high number and I go down a little bit, you know, a little bit,” he told the reporter.
(With inputs from Agencies)