Wall Street was turned upside-down by President Donald Trump's tariffs, but now we've been through a few rounds of him posting then withdrawing threats and trying to shake down foreign governments, things are settling down. They have a nickname for him, "Taco," to remind them where the puck always ends up. "Trump Always Chickens Out."
Most credit Financial Times commentator Robert Armstrong for coining the term. The New York Times noted that it happened again in recent days, with Trump's announcement of 50% tariffs on Europe causing major indexes to sink on Friday. But on Sunday he announced that he would delay those tariffs amid a new round of trade talks ― leading to major gains when the markets reopened on Tuesday. Ted Jenkin, president of Exit Stage Left Advisors, told the New York Post there's now a simple strategy on Wall Street based on those shifts.
For retail investors this boils down to "buy the dip." It might be best they don't know what the house makes of them.
Previously:
• Trump delays new Europe tariffs, days after announcing them
• Trump is having another meltdown because he's confused about how TV works
