Wall Street is wising up to Trump..
Wall Street traders have developed a biting new acronym for a strategy that’s become surprisingly lucrative for President Donald Trump’s whiplash-inducing trade policy: TACO – “Trump Always Chickens Out.”
More...As the title of this thread indicates, this is definitely how you lose a trade war.University of Michigan economist Justin Wolfers told Barron’s on Tuesday that “there was no BACO trade” – referring to former President Joe Biden – and “no CACO trade” referring to former President Bill Clinton.
“It was always taken as a given that when the president spoke on Monday, he would likely still mean it on Tuesday,” he added. “That’s no longer true. But what’s really hard is that it’s not even obvious when it’ll be true, and when it won’t be. Madness.”