'TACO Trade' Nickname Causes Trump Meltdown, X Eats It Up
Source: Andrew Harnik / Getty
President Donald Trump's angry response to a description of his erratic trade policies evoked a bevy of laughs from social media.
On Wednesday (May 28), President Donald Trump had sworn in former Fox News host Jeannine Pirro as the interim U.S. Attorney for Washington D.C. in the White House, and began to field questions from reporters. CNBC reporter Megan Casella asked, 'Mr. President, Wall Street analysts have coined a new term called the TACO trade. They're saying Trump always chickens out on your tariff threats and that's why markets are higher this week. What's your response to that?'
Reporter: Wall Street analysts have a new term called the TACO trade.. Saying Trump always chickens out on tariffs…
Trump: I kick out?
Reporter: Chicken out.
Trump: I gave the E.U. a 50% tax tariff. They called up and said, please, let meet right now. You call that… pic.twitter.com/lPQK9iZ70d
— Acyn (@Acyn) May 28, 2025
'I've never heard that,' Trump acknowledged, but swiftly got defensive. 'You mean because I reduced China from 145%, that I set down to 100% and then down to another number, and I said, 'You have to open up your whole country.' And because, I gave the European Union a 50% tax tariff, and they called up, and they said, 'Please, let's meet right now. Please, let's meet right now.'' He continued angrily, 'after I did what I did, they said, 'We'll meet anytime you want.'' And we have an end date of July 9th. You call that chickening out?'
After attacking former President Joe Biden for not imposing high tariffs, he pointedly attacked Cassella. 'We had a country people didn't think it was gonna survive, and you ask a nasty question like that?' he retorted, saying 'But don't ever say what you said. That's a nasty question. For me, that's the nastiest question.'
The 'TACO trade' term was coined by Financial Times columnist Robert Armstrong last month to describe how Trump scares global markets with tariff threats, forcing the market to plummet before backing off, which allows them to rebound again. '[T]he recent rally has a lot to do with markets realising that the US administration does not have a very high tolerance for market and economic pressure, and will be quick to back off when tariffs cause pain,' Armstrong wrote.
The meltdown didn't go unnoticed on social media, as critics highlighted how badly the president took the news. 'What's hilarious about this whole thing is there has to be people in the admin who know about this stuff and everyone is afraid to tell him bad news,' wrote Democratic Party strategist Adam Parkhomenko in a post on X, formerly Twitter. 'So we get to see him lose his s—t for the first time live on tv.'
What's hilarious about this whole thing is there has to be people in the admin who know about this stuff and everyone is afraid to tell him bad news. So we get to see him lose his shit for the first time live on tv. https://t.co/TaxIFOEwVP
— Adam Parkhomenko (@AdamParkhomenko) May 28, 2025
'TACO Trade' Nickname Causes Trump Meltdown, X Eats It Up was originally published on hiphopwired.com
Black America Web Featured Video
CLOSE
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
20 minutes ago
- CNBC
Poland on a knife's edge as exit poll shows a near tie in runoff
An exit poll in Poland's presidential runoff on Sunday showed the two candidates in a statistical tie with the race still too close to call in the deeply divided nation. The results could set the course for the nation's political future and its relations with the European Union. An Ipsos exit poll released when the voting ended showed that liberal Warsaw mayor Rafał Trzaskowski won 50.3% of the vote and conservative historian Karol Nawrocki won 49.7%. The poll has a margin of error of plus or minus 2 percentage points and the final vote is likely to change somewhat. Though the final result was still unclear with the two locked in a near dead heat, both men claimed to have won in meetings with their supporters in Warsaw. "We won," Trzaskowski told his supporters to chants of "Rafał, Rafał." "This is truly a special moment in Poland's history. I am convinced that it will allow us to move forward and focus on the future," Trzaskowski said. "I will be your president." Nawrocki, speaking to his supporters at a separate event in Warsaw, said he believed he was on track to win. "We will win and save Poland," he said. "We must win tonight." It looked as if it could be a long evening in Warsaw as the nation waited for a more precise "late poll" that combines a portion of the vote count with the survey data to give more clarity. The final results were expected Monday. The decisive presidential runoff pitted Trzaskowski, a liberal pro-EU politician, against Nawrocki, a conservative historian backed by the right-wing Law and Justice party and aligned with U.S. conservatives, including President Donald Trump. The fact that it was so close underlined how deep the social divisions have become in Poland. The outcome will determine whether Poland takes a more nationalist path or pivots more decisively toward liberal democratic norms. With conservative President Andrzej Duda completing his second and final term, the new president will have significant influence over whether Prime Minister Donald Tusk's centrist government can fulfill its agenda, given the presidential power to veto laws. "We will not allow Donald Tusk's grip on power to be completed," Nawrocki said. The runoff follows a tightly contested first round of voting on May 18, in which Trzaskowski won just over 31% and Nawrocki nearly 30%, eliminating 11 other candidates. Katarzyna Malek, a 29-year-old voter in Warsaw, cast her ballot in the first round for a left-wing candidate but went for Trzaskowski on Sunday, viewing him as more competent and more likely to pursue stronger ties with foreign partners and lower social tensions. "I hope there will be less division, that maybe there will be more dialogue," she said. The campaign has highlighted stark ideological divides. Trzaskowski, 53, has promised to restore judicial independence, ease abortion restrictions and promote constructive ties with European partners. Nawrocki, 42, has positioned himself as a defender of traditional Polish values and skeptical of the EU. Nawrocki's candidacy has been clouded by allegations of past connections to criminal figures and participation in a violent street battle. He denies the criminal links but acknowledges having taken part in "noble" fights. The revelations have not appeared to dent his support among right-wing voters, many of whom see the allegations as politically motivated. "We accomplished another very important thing — one that will stay with us for months and years to come. We managed to unite the entire patriotic camp in Poland — all the people who want a normal Poland, without illegal migrants," Nawrocki said. It was an apparent reference to those who supported far-right candidates in the first round and who supported him on Sunday. Some of those voting for Nawrocki in Warsaw dismissed the allegations against him, saying he shouldn't be punished for his past and that Trzaskowski has also made mistakes as mayor. Władysława Wąsowska, an 82-year-old former history teacher, recalled instilling patriotism in her students during the communist era, when Poland was under Moscow's influence. "I'm a right-wing conservative. I love God, the church and the homeland," she said, explaining that Nawrocki for her is the only patriotic choice now, and accusing Trzaskowski of serving foreign interests. "He's controlled by Germany," she said. "I want a sovereign, independent, democratic Poland — and a Catholic one." Amid rising security fears over Russia's war in neighboring Ukraine, both candidates support aid to Kyiv, though Nawrocki opposes NATO membership for Ukraine, while Trzaskowski supports it in the future. Nawrocki's campaign has echoed themes popular on the American right, including an emphasis on traditional values. His supporters feel that Trzaskowski, with his pro-EU views, would hand over control of key Polish affairs to larger European powers like France and Germany. Many European centrists rooted for Trzaskowski, seeing in him someone who would defend democratic values under pressure from authoritarian forces across the globe.
Yahoo
20 minutes ago
- Yahoo
Ukraine launches major drone attack on Russian bombers, security official says
Ukraine has launched a 'large-scale' drone attack against Russian military bombers in Siberia, striking more than 40 warplanes thousands of miles from its own territory, a security official has said, after it smuggled the drones to the perimeter of the airfields hidden in the roofs of wooden sheds. On the eve of peace talks, the drone attack on four separate airfields was part of a sharp ramping up of the three-year war, with Russia launching waves of drones at Ukraine, while Moscow said sabotage was to blame for two train derailments that left seven people dead. Video from several military airfields across Russia showed destroyed aircraft and planes engulfed in flames, though the full extent of the damage remained unclear. Among the more than 40 aircraft reportedly hit were Tu-95 and Tu-22 strategic bombers, which Russia uses to fire long-range missiles at Ukrainian cities. Ukraine's SBU domestic intelligence agency said it had hit Russian military planes worth a combined $7bn (£5.2bn) in the wave of drone strikes. If the extent of the damage is confirmed, the attack would mark Ukraine's most damaging drone strike of the war to date, amid an escalation in cross-border incursions before a new round of direct negotiations in Istanbul on Monday. A Ukrainian official provided video footage to media reportedly showing the strikes, in which Reuters said several large aircraft that appeared to be Tu-95 bombers were on fire. The Tu-95 was originally developed to carry nuclear bombs and now launches cruise missiles. Several Russian and Ukrainian media outlets reported that Ukraine carried out the operation by launching drones from lorries parked near military airfields deep inside Russia. Ukrainian officials told the media that the operation – codename 'Spiderweb' – had been in preparation for more than 18 months. The drones were first smuggled into Russia and later concealed under the roofs of small wooden sheds which were loaded on to trucks and driven to the perimeter of the airbases. The roof panels of the sheds were lifted off by a remotely activated mechanism, allowing the drones to fly out and begin their attack, the official said. Media reports said Ukraine's president, Volodymyr Zelenskyy, had personally overseen the sophisticated operation. On Sunday evening he thanked everyone involved, adding: 'We had been preparing the operation for more than a year and a half. Planning, organisation, all the details were perfectly prepared. I can say for sure that this is a completely unique operation.' He said that the office of Ukraine's operation in Russia had been located 'right next to the FSB office in one of (Russia's) regions'. 'In total, 117 drones were used in the operation. And a corresponding number of drone operators were working,' he said. 'Thirty-four per cent of the strategic cruise missile carriers at the airfields were hit. Our people were operating in different Russian regions – in three time zones. And our people were withdrawn from the territory of Russia on the eve of the operation, and now they are safe – those who helped us.' Photographs from Ukrainian security officials showed dozens of short-range quadcopter drones piled up in an industrial facility. Other images showed the wooden sheds with their metal roofing panels removed, and the drones sitting in the cavities between roof beams. A separate video posted on Russian Telegram channels appeared to show matching sheds on the back of a truck with the roof panels lying on the ground and at least two drones rising out of the top of the sheds and flying off. Mash, a Telegram channel with links to Russia's security services, published footage that appeared to show men in Siberia's Irkutsk region climbing on to one of the lorries in an attempt to prevent drones from launching. In one clip, filmed at the burning airbase in Olenegorsk in the Murmansk region, a Russian service person is heard saying: 'It's fucked here,' as several bombers burn in the background. Since the full-scale invasion began in February 2022, Ukraine has been chronically outgunned by Russia in terms of military firepower. But it has developed a nimble and sizeable fleet of attack drones used to strike Russia's army and energy infrastructure. The Belaya airbase targeted on Sunday in Irkutsk oblast is more than 2,500 miles (4,000km) from Ukraine. The Russian defence ministry confirmed that several of its military aircraft 'caught fire' in the attack in the regions of Murmansk and Irkutsk. It added that there were no casualties and that several 'participants' had been arrested. In March, Ukraine said it had developed a new drone with a range of 3,000km, without providing further details. Earlier on Sunday, Russian investigators said they believed 'explosions' had caused two bridges in the border regions of Kursk and Bryansk to collapse overnight, derailing trains and killing at least seven people and injuring dozens. No one has claimed responsibility. Russian investigators were investigating the bridge blasts as 'acts of terrorism', according to state media. The Kremlin said the Russian president, Vladimir Putin, had been briefed throughout the night. Separately, tracks on the Unecha-Zhecha section of railway in Russia's Bryansk region were damaged without casualties, the national operator, Russian Railways, said. Russia has been hit by dozens of sabotage attacks since Moscow launched its offensive against Ukraine in 2022, many targeting its vast railway network. Kyiv says railways are targeted because they transport troops and weaponry. Meanwhile, the Ukrainian air force said Russia had launched 472 drones overnight, the highest nightly total of the war so far, as well as seven missiles. Ukraine's army said at least 12 Ukrainian service members were killed and more than 60 were injured in a Russian missile strike on an army training unit. Ukraine had previously refused to commit to attending a new round of direct talks in Turkey but on Sunday Zelenskyy said a delegation led by his defence minister, Rustem Umerov, would be in Istanbul. 'I have also defined our position before the Monday meeting in Istanbul,' which includes priorities to reach 'a complete and unconditional ceasefire' and the return of prisoners and abducted children, Zelenskyy said on social media. The US president, Donald Trump, has put pressure on both sides to end the war and threatened to walk away if they do not, potentially leaving Kyiv entirely dependent on European aid. Reuters reported Ukrainian negotiators in Istanbul would present a proposed plan for reaching a lasting peace settlement, with the current frontline as the starting point for negotiations about territory. Citing a copy of the document laying out the Ukrainian position, it said there would be no future restrictions on Ukraine's military strength, no international recognition of Russian sovereignty over parts of Ukraine taken by Moscow's forces, and reparations for Ukraine. Last year, Putin set out his opening terms for an immediate end to the war, demanding Ukraine drop its Nato membership ambitions and withdraw all of its troops from all four Ukrainian regions claimed and mostly controlled by Russia. With Reuters and Agence France-Presse
Yahoo
20 minutes ago
- Yahoo
Police probing firebombing at Scottish mansion after gangsters shot dead in Spain
Police are probing a Scottish firebombing which took place shortly after two notorious gangsters were shot dead in Spain. High-ranking members of the Lyons crime clan - Eddie Lyons Jnr and Ross Monaghan - are understood to have been fatally shot outside a pub registered to Monaghan in Costa Del Sol on Saturday night. A masked gunman got out a vehicle and opened fire on his targets outside the pub which was full of punters watching the Champions League final in Fuengirola. READ MORE: Robbie Williams' wife Ayda gives one-word take on Edinburgh as couple take in sights READ MORE: Edinburgh Robbie Williams fans vow 'never again' as they're trapped in huge crowds after gig Just minutes after the gunman opened fire, a plush Scottish home in the Renfrewshire village of Bridge of Weir was torched, causing considerable damage, reports the Record. The incident took place shortly before 11.30pm and prompted a response from the Scottish Fire and Rescue Service as well as police. A window of the property was reportedly smashed and the interior suffered smoke damage. The firebombing is currently being investigated by Paisley CID who are probing whether or not it is linked to recent incidents in Edinburgh and Glasgow which began in March. Join Edinburgh Live's Whatsapp Community here and get the latest news sent straight to your messages. War was waged on Edinburgh kingpin Mark Richardson and the Daniel crime clan after a Dubai-based Mr Big was ripped off in a £500k drug deal. The individual, who was recently named as Ross McGill, has since targeted businesses and properties linked to both Richardson and his Glasgow-based associates. It is also unclear if the double murder bid in Spain is linked to the escalating Scottish underworld feud. Detective Sergeant Kenny Taggart said: "The fire was set alight within a residential area and caused considerable distress and alarm to nearby residents. Thankfully, there were no reports of any injuries. "I am appealing to anyone who heard or saw anything suspicious in the local area to contact us. I would ask residents in the Bridge of Weir area and surrounding villages who have video doorbell, CCTV or possible dash cam footage to review it. "It may have captured something that can assist our enquiries." Anyone with information can contact Police Scotland on 101 quoting incident 4116 of 31 May 2025. Alternatively, you can call Crimestoppers on 0800 555 111 if you wish to remain anonymous.
