TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood
Anti-Trump acronym returns to Wall Street
- Donald Trump's repeated delays on trade tariff deadlines have led investors to nickname him "TACOs" (Trump Always Chickens Out).
- Initially, markets largely disregarded Trump's latest tariff delay to August 1, with experts suggesting his credibility on such threats has diminished.
- However, some economists, including Trump's former Commerce Secretary Wilbur Ross, argue that market uncertainty due to these delays is deeply troubling and unsustainable.
- Trump has since asserted that the August 1 deadline is a definitive "hard stop" for tariffs ranging from 20-40 per cent on countries without trade deals, sending warning letters.
- Experts anticipate renewed market volatility as the August 1 deadline approaches, with concerns that tariffs, if implemented, would primarily harm American consumers through higher prices.