It’s been a little over four months since Donald Trump came back into the White House. In that time, he’s tried to start dozens of trade wars, he’s announced huge, nonsensical tariff schemes, and he’s pretty much backed down from every single tariff threat and trade-war menace. Trump is, as always, a coward and a moron. Wall Street is figuring this out in real time, and apparently Wall Street has a fun acronym for this current era: TACO, “Trump Always Chickens Out.” A reporter told Trump about the TACO acronym yesterday, and it was the first time Trump heard it. He was not happy.

Wall Street has a new shorthand about President Donald Trump — and he’s not happy about it. Traders have reportedly come up with the acronym TACO, which stands for “Trump always chickens out,” to take advantage of the trade environment created by the president’s habit of threatening to impose tariffs on countries, and then backing off at the last moment.

He bristled when asked about it Wednesday in an Oval Office press conference.

“Don’t ever say what you say, that’s a nasty question,” Trump told a journalist who asked for his response to the acronym. “To me that’s the nastiest question.”

Trump rejected the idea that his reversals on tariffs amounted to him backing down, saying that usually receives a different critique.

“They will say oh he was chicken, he was chicken, that’s so unbelievable,” Trump said about the EU tariff extension, adding, “I usually have the opposite problem — they say you’re too tough!”

The “TACO” trades, first coined by the Financial Times, are one of the ways Wall Street has managed to profit from the chaos of the Trump administration. Just a week after “Liberation Day,” in which he announced sweeping global tariffs, Trump abruptly announced they would all be cut down to a baseline 10 percent. His whopping 145 percent “retaliatory” tariff against China, part of a tit-for-tat escalation that has calmed after both countries struck a deal, is now down to 10 percent.

And just last week, Trump announced that he was considering increasing a tariff for the European Union to 50 percent, only to reverse course days later by extending the tariff deadline into July.

[From Politico]

As many are pointing out, this one question – “have you heard the acronym TACO?” – will probably lead to a major recession. Trump will want to prove that he’s not a chickensh-t dumbass so he’ll actually go through with one of his most insane tariff proposals, like the 50% tariff on the EU. So… this is probably the way to get what we actually want, right? We manipulate him by suggesting that he would be a huge, clucking chicken if he doesn’t do this or that. I heard that the medical community have the acronym TIAGPAV, Trump Is A Giant P–sy About Vaccines. I heard that pro wrestlers are using the acronym TUPAC, Trump’s Ukraine Policies Are Candyass. Let’s see if that gets things moving.

🚨 “Don’t ever say what you said!”

Holy shit. Trump just learned Wall Street is calling his tariffs “TACO trade” (“Trump Always Chickens Out”) — and you have to watch his meltdown. pic.twitter.com/fQUIoWqiJN

— Keith Edwards (@keithedwards) May 28, 2025

Photos from Wednesday’s swearing in ceremony for, I swear to God, Jeanine Pirro as interim US Attorney for the District of Columbia, courtesy of Cover Images.