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2d ago

Trump Rejects ‘TACO Trade’ Jibe as U.S. Trade Court Halts His Tariffs

He defended his flip-flopping tariff threats as a negotiating tactic after the U.S. Court of International Trade ruled he lacked authority for sweeping levies.

President Donald Trump speaks during a swearing in ceremony for U.S. Attorney for Washington, D.C. Jeanine Pirro in the Oval Office of the White House on May 28, 2025 in Washington, DC.
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Overview

  • Financial Times columnist Robert Armstrong coined “TACO trade” to describe investors betting on market rebounds once Trump softens or delays his tariff threats.
  • Wall Street traders have profited by buying stocks during sell-offs triggered by new tariff announcements, anticipating a rapid reversal.
  • In an Oval Office briefing, Trump bristled at the “Trump Always Chickens Out” label, calling questions about it “nasty” and insisting his approach is strategic negotiation.
  • A panel of judges at the U.S. Court of International Trade blocked most of the April 2 “Liberation Day” tariffs, finding the president exceeded his legal authority.
  • Trump’s on-again, off-again tariff policy has driven sharp market swings and spurred fresh negotiations with China, the European Union and other trade partners.