TACO Trump Memes Spread Online Mocking Tariff Reversals

The acronym TACO, standing for "Trump Always Chickens Out," has become a viral meme and Wall Street shorthand criticizing President Donald Trump's inconsistent stance on tariff policies. This term gained traction after Trump announced sweeping tariffs that he later modified or delayed following market reactions and international negotiations, leading to perceptions of him backing down from his threats. CNBC correspondent Megan Casella confronted Trump during a press event about the TACO label, prompting a sharp rebuke from the president who denied ever "chickening out." Despite Trump's defense citing reductions in tariffs on China and negotiations with the European Union, the internet responded with a flood of memes depicting Trump as a taco or chicken, amplifying the criticism. The phrase was popularized by Financial Times columnist Robert Armstrong, who highlighted the administration's low tolerance for market pressure in his newsletter. These developments illustrate the growing scrutiny of Trump's trade policies amid the 2024 presidential campaign, with even conservative platforms like the Drudge Report increasing their critical coverage.