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Donald Trump was questioned about TACO trade by CNBC correspondent Megan Cassella during a press conference at the Oval Office on Wednesday.
The acronym TACO stands for Trump Always Chickens Out. (Photo Credit: X)
US President Donald Trump has been making the headlines once again. This time, it was his reaction to the term ‘TACO trade’ that caught everyone’s attention. The US President was questioned by a reporter about the term TACO or Trump Always Chickens Out during a press conference at the Oval Office on Wednesday. The term refers to Trump’s tactic of announcing high tariffs on other countries and later backing down. The question left the leader visibly angry as he defended his trade policies.
Trump was questioned about TACO trade by CNBC correspondent Megan Cassella. “Mr President, Wall Street analysts have coined a new term called the Taco trade. They’re saying ‘Trump Always Chickens Out’ (Taco) on your tariff threats. And that’s why markets are higher this week. “What’s your response to that?” she asked.
In response, Trump said his negotiating tactics had led to $14 trillion in new investment in the US. The figure could not be independently verified, according to the Associated Press. He also claimed that European Union leaders had asked him to set a meeting for negotiations, which led him to delay a 50 per cent levy on EU goods to July 9.
Trump rejected the term ‘TACO trade’ and called it the “nastiest question.”
The acronym TACO was coined by Robert Armstrong, a commentator for Financial Times, to denote Trump’s volatile back-and-forth regarding tariffs on imported goods. The US President had announced a 145 per cent levy on goods imported from China, later pulling the figure to 30 per cent to allow for 90 days of negotiations. A similar situation was seen with the imposition of universal tariffs and levies on auto and electronics.
The flip-flop by Donald Trump has had a corresponding effect on the markets. When tariffs are announced, investors sell off. Conversely, stocks rebound when the tariff decisions are reversed.
Watch Trump’s Response To TACO Trade Here:
Who Is Megan Cassella?
A correspondent for CNBC, Cassella is known for her reporting on policy decisions by Washington DC. A journalism and international politics graduate from the University of North Carolina, she earlier worked at Politico. There, she covered the Biden administration’s economic policy transition, and the renegotiation of the North American Free Trade Agreement (NAFTA). Before joining CNBC, she worked as Barron’s senior economics and policy reporter. She covered the US economy and the Federal Reserve with a focus on the labour market and inflation.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
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Washington D.C., United States of America (USA)
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