Wall Street loves a catchy acronym, and the “TACO trade” has captured the mood, as investors and analysts attempt to make sense of the roller-coaster market action that has followed President Donald Trump’s sweeping tariff threats and subsequent walk-backs.

What is a TACO trade? TACO stands for “Trump Always Chickens Out.” The term, coined by Financial Times writer Robert Armstrong earlier this month, ties back to tariffs and Arm

Trump’s tendency to back off of his most extreme threats recently inspired a Financial Times writer to coin the phrase “ TACO trade ,” for “Trump Always Chickens Out.” But regardless of his reversals,