Wall Street dubs Trump 'TACO': Backlash over tariff tactics
Donald Trump, known for giving nicknames to his opponents, has this time become the target of jokes himself. The President of the United States did not enthusiastically embrace his new moniker.
During a press conference in Washington, Donald Trump was asked about his reaction to the new nickname given to him by Wall Street experts: TACO, which stands for "Trump Always Chickens Out." The US President did not take it very well.
Known for giving nicknames to his opponents, Trump found himself the target of jokes this time. When asked about TACO, he replied: "Oh isn't that nice – 'I chicken out.' I've never heard that," before starting to talk about reducing tariffs on goods from China. He then turned to the reporter: "But don’t ever say what you said. That’s a nasty question."
The abbreviation TACO was first used by Robert Armstrong, a columnist for the "Financial Times," to describe Trump's tendency to impose tariffs on countries and then suddenly back out or lower the rates.
Experts predict that Donald Trump might now attack the so-called "leftist judges," after a panel of three judges ruled that he exceeded his authority by imposing tariffs on almost all countries under emergency legislation.
The court's decision was predictable, and the Trump administration filed an appeal, claiming that "it is not for unelected judges to decide how to properly address a national emergency."
In April, Trump introduced new tariffs intended to "make America rich again." He presented a large chart titled "Reciprocal Tariffs," showing how many countries, including the European Union, would be affected. However, he later backed out, offering a 90-day break for all countries except China, and raising their tariffs to 125 percent.
Trump to bid farewell to Musk
Trump announced on the platform Truth Social that he will hold a joint press conference with Elon Musk on Friday, as Musk is leaving the US administration. The conference is scheduled for 1:30 PM Eastern Time in the Oval Office of the White House.
Trump wrote that although Musk is leaving, "he will, always, be with us, helping all the way" and added that "Elon is terrific." Musk announced on platform X that he is resigning as Trump's chief advisor and head of the Department of Government Efficiency.
The Associated Press noted that Musk's decision ends a tumultuous period that saw many layoffs and restructuring of government agencies. Despite Musk's numerous actions, their effects were smaller than expected.
