The acronym “TACO” is popping up on Wall Street. It’s a tongue-in-cheek term that stands for "Trump Always Chickens Out” in regard to tariffs, coined by Financial Times journalist Robert Armstrong in a May 2 column. There has been a pattern of stocks plunging when the Trump administration announces stiff new tariffs, and then, when Mr. Trump eases up on them days or weeks later, stocks surge. Here’s more about the “TACO” theory and what the president had to say about it. https://cbsn.ws/3Fz2KlL

Last month, Robert Armstrong coined the acronym 'Taco' — which stands for 'Trump always chickens out' — as a way to describe the US president's tariff approach and the way markets react to it. Listen to the Unhedged podcast: https://on.ft.com/4dEfcgz | Financial Times