Trump Always Chickens Out

Trump Always Chickens Out (TACO) is a term that gained prominence in May 2025 after many threats and reversals during the trade war U.S. president Donald Trump initiated with his administration's "Liberation Day" tariffs. By 2026, the term also came to be used to characterize some of Trump's decisions in the realm of foreign policy, like threats he did not follow through on regarding Greenland or China. The acronym is used to describe Trump's tendency to make tariff threats, only to later delay them as a way to increase time for negotiations and for markets to rebound. The term originated on Wall Street, where the TACO trade involves buying stocks cheaply after a tariff announcement pushes stocks lower, then selling them at a profit after the tariffs are delayed or reduced and the market rebounds. In 2026, the term was widely used to describe his reversal of his threats to annex Greenland.

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