"TACO trade," which stands for "Trump always chickens out," was coined by Financial Times columnist Robert Armstrong but has since spread across Wall Street and the internet, mocking the president's back-and-forth on tariff policies.

The acronym stands for "Trump always chickens out" a jab at the president's propensity to impose or threaten steep tariffs and later back off.

President Donald Trump rose his voice at a White House reporter on Wednesday, May 28, after she told him what some Wall Street analysts have started calling his tariff plan

The term was first coined by Financial Times columnist Robert Armstrong and has since caught fire on Wall Street. Traders use “TACO trade” to describe how markets tend to sell off after Trump announces aggressive tariffs — and then rally once he walks them back.

President Donald Trump threw a fit on Wednesday after a reporter asked him about an insulting acronym being bandied about on Wall Street. It’s called TACO, or “Trump Always Chickens Out,” and refers to how Trump likes to announce massive tariffs,

The bulls are back in control, and are largely ignoring Donald Trump. But they’ve pushed Wall Street to levels that leaves zero room for error.