The court also noted the wild swings in tariff levels, as Trump has announced and then backed down from high tariffs on specific countries or trading blocs over the past two months. The president was asked by a CNBC correspondent on Wednesday to respond to the fact that Wall Street analysts had started to refer to certain trades made in the expectation that he would impose and then back down from tariffs as “TACO trades”, an acronym for “Trump Always Chickens Out”. He was not happy to hear the phrase.
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