TACO

Trump has announced new or revised tariff policies more than 50 times since Trump’s Jan. 20 inauguration. “TACO trade” was coined this month by Financial Times columnist Robert Armstrong to describe how investors have responded to Trump’s whiplash tariff policy. The acronym stands for “Trump always chickens out” ‒ a jab at the president’s propensity to impose or threaten steep tariffs on imports, only to reverse later.

Meanwhile, a three-judge panel of the Court of International Trade with Reagan, Obama and Trump appointees ruled that Trump does not have the authority to impose tariffs under a 1970s-era emergency legislation.