President Donald Trump's affinity for tariffs had already earned him the nickname "TACO," which stands for "Trump Always Chickens Out." Now, it appears Trump's tariffs have earned him a different, albeit smaller, nickname from an economist.
Economist Justin Wolfers, a professor at the University of Michigan, joined MSNBC's "Deadline: White House" to talk about the impact of Trump's tariffs. Wolfers acknowledged that Trump's previous attempts to levy tariffs against foreign nations earned him the nickname of TACO. But Trump's latest batch of tariff threats makes him seem more like a "TACQUITO," Wolfers said.
TACQUITO, he said, stands for "Trump's aggressive commerce quest will unleash intense tariff orders."
Since taking office, Trump has promised to impose sweeping tariffs against foreign countries that have a trade deficit with the United States. To that end, he's imposed tariffs on major trading partners like the European Union, Japan, and South Korea.
While the tariffs have not yet resulted in higher prices for American consumers, Wolfers worries that impact is still looming.
"People don't seem so worried now. They're betting on TACO, Trump Always Chickens Out," Wolfers said. "And, Nicolle, I know you love the acronyms, but I worry this is the opposite. I worry this is a bloke who loves tariffs, and he got talked out of it last time."
"This time, he might have the courage of his convictions," Wolfers continued. "So instead, I think we are looking at the TACQUITO, that Trump's aggressive commerce quest will unleash intense tariff orders."
