In a lively press briefing held at the White House on Wednesday, a humorous moment unfolded when CNBC correspondent Megan Cassella directly confronted President Donald Trump with a new and cheeky acronym that has captured the attention of Wall Street: TACO, which stands for “Trump Always Chickens Out.” This playful jab references the president’s notorious tendency to reverse his positions on tariff threats, and it has sparked considerable discussion online as well as among traders.

Cassella posed a pointed question to the president, stating, “Mr. President, Wall Street analysts have coined a new term called the ‘Taco trade.’ They’re saying ‘Trump Always Chickens Out’ on your tariff threats. And that’s why markets are higher this week. What’s your response to that?” The question appeared to rile Trump, who promptly dismissed the implication that he had retreated from his commitments regarding tariffs.

“I chicken out? Oh, I’ve never heard that,” he retorted, seemingly taken aback. He continued to defend his tariff strategy by referencing his decision to lower the tariff rate on Chinese imports, which had initially peaked at a staggering 145%. Trump explained, “You mean because I reduced China from 145% that I set down to 100 and then to another number?” This was an indirect acknowledgment of the complexities of his trade policies.

Recently, Trump had made headlines by announcing a significant 50% tariff on goods imported from the European Union, set to go into effect on June 1. However, just two days later, he postponed this deadline to July 9, stating that progress was being made in ongoing trade negotiations. This abrupt change only fueled the fire of the “TACO” nickname, suggesting that his administration’s decision-making might be more reactive than decisive.

As the term gained traction online, a wave of TACO-themed memes began to flood social media platforms, showcasing a variety of humorous interpretations. Users creatively shared images of tacos adorned with Trump’s likeness, chickens humorously perched atop his head, and animated GIFs that mocked his trade strategies. One user cleverly quipped, “THERE ARE NO TRADE DEALS. Because Trump Always Chickens Out.”

Another user added a poetic twist with a light-hearted rhyme: “The truth, in case there was doubt—Donald Trump may be losing his clout. His tariffs will reveal… he loses every deal. That’s because Trump Always Chickens Out.” The playful nature of these memes resonated widely, with many people finding humor in the president’s response.

During the exchange, Trump displayed an unmistakable sense of sarcasm in his reply to Cassella’s question, stating, “Oh, I chicken out? Isn't that nice? I've never heard that.” He took the opportunity to defend his choices regarding the tariffs, arguing that lowering them temporarily was beneficial for both the United States and China. “You call that chickening out?” he challenged the reporters. “I think we really helped China tremendously because, you know, they were having great difficulty because we were basically going cold turkey with China. We were doing no business because of the tariff, because it was so high. But I knew that.”

The exchange ended on a somewhat tense note as Trump issued a warning to Cassella, saying, “Don't ever say what you said. That’s a nasty question.” This interaction not only provided a glimpse into the president's approach to contentious issues but also highlighted the lively atmosphere often present during White House briefings.