Cnn
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There was a reason for the particularly scathing response of President Donald Trump when a journalist asked him on Wednesday a new mandate on the president’s prices: Taco, or Trump always chickens.
He had not yet heard the term, according to a senior White House official who admitted CNN that the president had been caught. Trump had said so much at the time, saying “I never heard this” before calling him the “most nasty question”.
“He thought the journalist called him a chicken,” said the manager, adding that Trump was “reasonably” frustrated by the sentence.
The acronym was invented in early May by a columnist for the Financial Times and is now used as shortcut by some to Wall Street to indicate that traders should not be too worried about Trump’s pricing threats because it usually retreats.
Trump also expressed his frustrations to his team as a result of the exchange, said sources familiar with the case. He was not only thwarted by the term himself but also by the failure of his team to tell him about the sentence which is gaining ground.
It is a window on what can the most offended Trump: it clearly took a shade with the idea that people perceive its pricing adjustments as a weakness. Trump’s real -time response has also demonstrated his point of view according to which the shortcut has decreased what he considers an essential negotiation tactic on trade. He explained on Wednesday that sometimes he set “a high ridiculous number” for the rate rates, then sold if other nations give in to his requests.
“It was clearly disturbed, mainly because it has shown a lack of understanding of how he really uses these lever threats,” said a person familiar with the problem. “But obviously, it is not a guy who looks gently the weakness, so the idea that someone thinks that as far as his actions is not well received.”
Trump, last week, threatened by 50% of prices on the European Union, then extended the deadline in exchange for more concrete talks and threatened his trade war in China with the aim of obtaining compliance with last month’s agreement. Last month, he also imposed a 145% rate on imported Chinese products, before bringing this to 30% this month.
The journey of the acronym Taco to the oval office is, in itself, a revealing story on the current information environment.
He is from a chronicle of May 2 by Robert Armstrong, commentator of the Financial Times and author of the popular financial bulletin of the publication “not covered”.
Armstrong invented the sentence as a way to capture Trump’s frequent will to go back, take a break or provide excursions from his largest pricing threats. The idea, in short, is that Trump’s threats had created a model of falling stocks, only to see them increase when he changed lessons for weeks later.
He used the term to try to explain the regular rise trajectory which takes place at the end of April, what he wrote had “a lot to do with the markets realizing that the US administration does not have very high tolerance for the market and economic pressure, and will be quick to retreat when the prices cause pain. This is the theory of Taco: Trump half the passages. ”
The acronym has somehow become an in progress joke on finance Twitter, the informative and generally good humor of X where financial commentators and analysts debate the most interesting, most interesting subjects on the market or, sometimes, subjects.
In a few weeks, the Taco trade had become a must at the chatter of Wall Street and began to appear in the ratings of customers of financial analysts and economists. The rapid acceleration of the role of the acronym in the financial lexicon caught Armstrong, who strongly criticized the economic merits of Trump prices, by surprise.
“The mysteries of social media and media in general are still completely hidden to me,” said Armstrong on the “uncover” podcast of the FT.
“The result that I really don’t hop, really is that it has something to do with the president who stops his usual few passages,” added Armstrong. “Clearly sel, getting the bath is good and something to celebrate. Bad Policy Prouching Out – Hourra. ”
Trump clearly told the journalist on Wednesday that he preferred a different description.
“Do you call this for a pastor?” Trump asked. “This is called negotiation.”
Kylie Atwood contributed to this report.