Donald Trump was left furious after being asked about a phrase that’s become popular on Wall Street – ‘TACO’.
Coined by a Financial Times journalist, TACO stands for “Trump always chickens out” and references the US president’s tendency to announce high import tariffs, only to later pause or lower them.
The term was put to Mr Trump by a journalist in the White House on Wednesday, prompting the president to label the question “nasty”.
Mr Trump denied that he has ever backed down on tariffs and said his approach has helped the US push other countries towards the negotiating table.
Donald Trump unveiled his ‘Liberation Day’ tariffs on 2 April. Pic: Reuters
Mr Trump said the EU told him officials will “meet you anytime you want” after a 50% tariff on goods from the bloc was announced.
He said he delayed the levy after a call from Ursula von der Leyen, the president of the European Commission.
The US president told the reporter who brought up TACO: “You call that chickening out? It’s called negotiation.”
“Don’t ever say what you said,” he added. “That’s a nasty question.”
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Mr Trump’s various tariff announcements have taken global stock markets on a rollercoaster.
His wave of ‘Liberation Day’ tariffs, announced in April, sent worldwide markets plummeting – with US indexes experiencing their worst days since the COVID pandemic.
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The US also became locked in a trade war with China when Beijing retaliated with raised levies of its own. The two countries have now slashed their tariffs and entered a 90-day truce.
A court has since blocked Mr Trump’s sweeping tariffs, ruling that the president exceeded his authority when he made the 2 April announcement.