President Donald Trump addressed criticism of his fluctuating tariff policies, mockingly labeled “TACO trade” (Trump Always Chickens Out) by a Financial Times columnist. The term refers to Trump’s pattern of announcing aggressive tariffs, causing market drops, then scaling them back, leading to market recoveries.
In a CNBC presser at the White House, Trump rejected claims of backing down, insisting his tariff strategy strengthened U.S. trade negotiations. He cited a recent 50% tariff threat against the European Union, which he delayed from June 1 to July 9 after European Commission President Ursula von der Leyen requested an extension. “After I did what I did, they said, ‘We’ll meet anytime you want,’” Trump said, calling the approach “negotiation,” not retreat, and dismissing the question as “nasty.”
Trump brushed off the “TACO trade” jab—short for “Trump Always Chickens Out”—saying lowering tariffs brought global powers to the table. “You call that chickening out?” he asked, calling the FT-originated term “a nasty question.” https://t.co/cllxTVk9Cw pic.twitter.com/rx86ePvsl6
— Wall St Engine (@wallstengine) May 28, 2025
Markets reflected the pattern: stocks fell after the initial tariff announcement on Friday but rebounded Tuesday following the delay. Trump credited the tariff threat with sparking renewed U.S.-EU trade talks.
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