• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

Trump dismisses ‘chickening out’ criticism on Tariff flip-flop

by May 29, 2025
by May 29, 2025

US President Donald Trump dismissed the criticism, saying that he is bluffing countries with tariffs and backing out after the market sell-off.

The criticism increased after Trump backed off the 50% tariff threat made against the EU last week.

A decision that initially triggered a major market selloff, followed by a swift rebound when the announcement was delayed.

TACO Trade

A Financial Times report labelled the term TACO trade, an acronym for “Trump Always Chickens Out”. This reflects the sentiment among investors that Trump has a pattern of backing away from aggressive tariff announcements after markets react negatively.

When CNBC in a press briefing asked Trump about the supposed backing off, he responded that he never backed off and said the announcements help the US in trade negotiations.

Trump elaborated that he didn’t chicken out on the tariff negotiations with the EU.

“After I did what I did, they said, ‘We’ll meet anytime you want. You call that chickening out? It’s called negotiation. The sad thing is, now, when I make a deal with them, it’s something much more reasonable, they’ll say, ‘Oh, he was chicken, he was chicken”

The Financial Times stated that when Trump reverses the tariff announcements to protect the fortunes of big tech, significant damage is being done to global trade and growth due to the uncertainty caused by the tariffs.

Market dances to tariff tunes

Trump’s announcement on May 23 sent the markets down with major European indices like the FTSE 100, Stoxx Europe 600 index, CAC and DAX closing in the red.

The US markets were also affected by the sell-off as Trump had announced a 25% tariff on Apple for iPhones produced outside the US and imported into it.

On Sunday, Trump said he is extending the tariff deadline to July 9 from June 1 after Ursula von der Leyen, President of the European Commission, asked for an extension.

On Tuesday, the market indices surged strongly after the announcement.

The pattern has been repeated since Trump’s first tariff announcement in April.

Trump on April 2 announced reciprocal tariffs against major companies with some getting hit with more than 30% tariffs.

Following a week of market turmoil, where major indices like the S&P 500 fell 10% in two sessions, Trump announced the tariffs would be slashed to 10% for 90 days, allowing countries to make trade deals with the US.

After the tariff reversal announcement, S&P 500 rallied over 9% in a single session.

Things unfolded similarly for China as well.

Trump first announced tariffs and China responded. Eventually US put a 145% tariff on China while China slapped a 125% tariff on US goods.

After trade talks with the Chinese administration, both governments agreed to drop the tariffs to 10% for 90 days.

The post Trump dismisses ‘chickening out’ criticism on Tariff flip-flop appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Tempus AI stock wasn’t worth owning even without the short report: find out why
next post
Jim Cramer says IonQ stock does not live up to his taste: here’s why

Related Posts

Europe bulletin: Zelensky calls for more weapons, Russia...

October 25, 2025

Nvidia stock edges higher amid semiconductor sector rally...

October 25, 2025

AMD stock climbs 7%, breaching $400B market cap...

October 25, 2025

US digest: Jeffries endorses Mamdani, Ford’s stock surge,...

October 25, 2025

Trump seeks Asia mineral deals to ramp up...

October 25, 2025

Lucy Powell elected deputy leader of the UK’s...

October 25, 2025

Disney warns YouTube TV subscribers of potential blackout...

October 24, 2025

Top catalysts for the CAC 40 index next...

October 24, 2025

European stocks open higher, buoyed by a wave...

October 24, 2025

NatWest share price forecast as its earnings jump:...

October 24, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Europe bulletin: Zelensky calls for more weapons, Russia warns against EU sanctions

    October 25, 2025
  • Nvidia stock edges higher amid semiconductor sector rally and AI boom

    October 25, 2025
  • AMD stock climbs 7%, breaching $400B market cap amid chip sector rally

    October 25, 2025
  • US digest: Jeffries endorses Mamdani, Ford’s stock surge, US sanctions Colombian president

    October 25, 2025
  • Trump seeks Asia mineral deals to ramp up pressure on China’s Xi: report

    October 25, 2025
  • Lucy Powell elected deputy leader of the UK’s Labour Party

    October 25, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 5

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 6

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 7

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025

Categories

  • Economy (3,000)
  • Editor's Pick (295)
  • Investing (185)
  • Stock (2,048)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Is insurance AI just a cost-cutter? Report...

June 25, 2025

Novartis lifts full-year profit forecast, announces $10...

July 17, 2025

Trump-Musk fallout risks SpaceX deals, Tesla’s standing,...

June 6, 2025