Overview

• Investors have adopted the “TACO trade” coined by Financial Times columnist Robert Armstrong to bet on market rebounds when Trump reverses tariff threats.
• Google searches linking Trump to “TACO” jumped nearly 10,000%, and social media is flooded with memes and AI-generated images depicting him as a chicken or eating tacos.
• Trump dismissed questions about the acronym as a “nasty question” during a May 28 press conference, and aides were reportedly unaware of its growing traction.
• Commentators from conservative voices like National Review’s Rich Lowry to analysts at Panmure Liberum recognize its staying power and warn it could prompt Trump to uphold tariffs to counter the taunt.
• Democratic Rep. Eric Swalwell amplified the jibe with a viral TikTok of himself eating a taco to mock Trump’s chickening-out reputation.