President Donald Trump wasn’t pleased to hear about the hot new slogan spreading across Wall Street: “Trump Always Chickens Out.”
“Mr. President, Wall Street analysts have coined a new term called the ‘TACO Trade’ — they’re saying ‘Trump Always Chickens Out’ on your tariff threats, and that’s why markets are higher this week. What’s your response to that?” a reporter asked during a White House briefing on Wednesday.
Investors are reportedly using “TACO Trade” to refer to Trump’s pattern of announcing huge tariffs, causing the markets to plummet, then reversing course days later, causing the markets to rise.
Trump seemed unaware of the mockery on Wall Street and rambled in response.
“Oh, isn’t that — I chicken out, I’ve never heard that,” Trump replied. “You mean because I reduced China from 145%, [then] I said down to 100, then down to another number? And I said you have to open up your whole country and because, I, I gave the European Union a 50% tax tariff, and they called up and they said, ‘Please, let’s meet right now, please, let’s meet right now.’ ... You call that chickening out?”
