The internet mocked President Donald Trump on Wednesday after he backed down on his demands to seize Greenland.
Trump reversed his plot to seize the Arctic island country and Danish territory — after major pushback from NATO allies, world leaders and a plummeting stock market — claiming that a deal was in the works following his speech at the World Economic Forum in Davos, Switzerland.
People were ready to criticize the president's comments and major shift away from owning the country in comments online, calling Trump "TACO" — an acronym for Trump Always Chickens Out.
"Trump walks back tariff and military threats over Greenland. Markets have a name for this: TACO," Nandita Bose, Reuters White House correspondent, wrote on X.
"TACO Strikes Again: Trump Postpones Tariff Threat, Has 'Framework' For Greenland Deal," the libertarian finance-focused blog and news aggregator Zero Hedge wrote on X.
"The most consistent them[e] in Trump's second term has been that every time he leans into his tariff agenda, markets tank, and every time he backs off, they rise. And here's the latest round of uppy-downy to prove the point. Markets clearly believe that Trump's tariff agenda hurts American businesses," economist and professor Justin Wolfers wrote on X.
"TACO Tuesdays are back. And in true Trump fashion, a day late," anti-Trump group The Lincoln Project wrote on X.
"Trump just TACO'd. He isn't getting Greenland," U.S. Navy service member Christopher David wrote on X.
"The TACO cycle: The markets want to price in TACO, but TACO needs Trump to see stocks tank. So we get these cycles where Trump does stuff and nothing happens (because the market has priced in TACO) ... which encourages him to do more stuff until the markets actually thinks he may not TACO and prices start to fall ... which restores TACO," Arin Dube, Provost Prof. of Economics at University of Massachusetts Amherst, wrote on X.