Overview

• The Court of International Trade blocked most of Trump’s April 2 ‘Liberation Day’ tariffs, ruling the president had overstepped his legal power.
• Trump disputed accusations of retreat when confronted with the “TACO” acronym and defended his pauses as strategic negotiation tactics.
• Financial Times’ “TACO” label for “Trump Always Chickens Out” has surged on Wall Street and social media as critics spotlight his on-again, off-again tariff moves.
• Economists warn that erratic tariff announcements have roiled global markets and could add roughly $2,800 to the average US household’s annual costs.
• His tariff campaign forced a 90-day truce with China and delayed planned levies on European Union imports after talks with Ursula von der Leyen.