Trump Blasts Wall Street’s "TACO" Trades That Bet Against Him

Wall Street investors have coined a new acronym—TACO, or “Trump Always Chickens Out”—to describe trading strategies based on President Donald Trump’s pattern of backing down from trade threats, The Independent's Justin Baragona reported.

TACO is short for “Trump Always Chickens Out.”

The term, first used by Financial Times columnist Robert Armstrong, refers to stock dips triggered by Trump’s tariff threats and sharp rebounds when he pulls back. Investors have begun using TACO trades to profit from the volatility.

Asked about the label, Trump lashed out: “You call that chickening out?!”

He defended his moves, citing $14 trillion in new investments and accusing the reporter of asking a “nasty question.” The comment came during the swearing-in of interim U.S. attorney Jeanine Pirro in Washington, D.C.

Armstrong’s colleague Katie Martin praised the term, noting how markets reacted when Trump paused new tariffs on April 9—just one week after declaring “liberation day.”