President Donald Trump doesn't like his new nickname 'TACO'. Here's why people are calling Trump TACO and the meaning behind the TACO trade acronym

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.

Markets will probably just ignore new tariffs threats against Canada, Mexico and the EU. But that means investors are giving Trump no reason to chicken out.