U.S. President Donald Trump clarified his position regarding criticisms that he would reverse his decision following the imposition of high tariff rates, stating that it was a result of negotiations.
On the 28th (local time), during a Q&A session with reporters at the White House, Trump answered a question regarding New York Wall Street analysts who argued that the president always threatens tariffs and eventually backs down, even coining the term 'taco trade,' by saying it was 'rude' but that 'that's negotiation.'
'TACO (Trump Always Chickens Out)' is a term that mocks President Trump for repeatedly altering his stance on tariff negotiations, postponing or reversing decisions several times; it has recently spread as a neologism on Wall Street. President Trump had previously postponed reciprocal tariffs imposed on 57 countries on April 2nd, labeled 'Day of Liberation,' by 90 days after the stock market crashed just a day after they took effect.
Regarding the term 'taco,' President Trump said, 'What does that mean?' claiming he had heard it for the first time. He continued, 'I imposed a 145% tariff on China, then lowered it to 100%, and then lowered it even further. I also imposed a 50% tariff on the European Union, and they immediately said, 'Let's meet right now,' which made negotiations possible. This is negotiation. Presenting a ridiculous high number and then slightly lowering it is what negotiation is.'