Trump Always Chickens Out

Views and ideology

45th and 47th President of the United States

Presidencies
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- second
Inaugurations
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Presidential library

Tenure

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Domestic
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Economic
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- tariffs
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    - Liberation Day tariffs
- trade wars
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Environment
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  - wind energy
Foreign
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- America First
- American expansionism
- Donroe Doctrine
  - Operation Southern Spear
  - Greenland crisis
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    - 2026 Iran war
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Social
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- cannabis
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Space
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Appointments

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COVID-19 pandemic

"Trump Always Chickens Out" (TACO) is a pejorative description of the perceived tendency of United States president Donald Trump to make threats, only to later delay or renege on them as a way to increase time for negotiations, allow markets to rebound, and avert backlash. The phrase was popularized in May 2025 after the many threats and reversals during the trade war he initiated with his "Liberation Day" tariffs. On Wall Street, a TACO trade is buying stocks cheaply after a tariff announcement pushes stocks lower, then selling them at a profit after the tariffs are delayed or reduced and the market rebounds.

In 2025 and 2026, TACO was also used to describe Trump's statements threatening to annex Greenland, and his efforts to negotiate a last-minute ceasefire deal with Iran before his deadline for initiating an American bombing campaign.