TACO

Short for “Trump Always Chickens Out,” a tongue-in-cheek term coined by the Financial Times columnist Robert Armstrong to describe the pattern of markets rebounding when the president relents on harsh tariff policies. “I chicken out? I never heard that,” the president said to a reporter who asked him about the term on Thursday. “Don’t ever say what you said … That’s a nasty question,” he told the reporter. (NYT)