被“TACO”惹毛的特朗普，市场不确定性又回升了

Core Viewpoint - The article discusses the impact of the term "TACO" (Trump Always Chickens Out) on President Trump's psyche and its potential to cause market volatility amid ongoing trade tensions [1][3]. Group 1: Trade Policy Uncertainty - Since May, trade policy uncertainty has significantly decreased from its peak in early April, but has recently surged again due to renewed tariff threats [2]. - Trump threatened a 50% tariff on the EU, which he later postponed, highlighting the erratic nature of his trade policies [2]. Group 2: Market Reactions - The "TACO" term encapsulates Trump's pattern of making aggressive tariff threats followed by retreats under market pressure, which has become a trading strategy on Wall Street [3]. - Despite Trump's threats causing market fluctuations, the U.S. stock market achieved its best May performance since 1997, indicating that traders are looking for rebound opportunities after his threats [3]. Group 3: Trump's Response to "TACO" - Trump perceives "TACO" as a personal affront, as it challenges his self-image as a strong negotiator and trader [4]. - Following a court ruling limiting his power to impose tariffs, Trump chose to appeal rather than back down, possibly influenced by the "chicken" label [5][6]. Group 4: Potential Consequences - Trump's determination to counter the "TACO" narrative may lead him to adopt a more aggressive stance in trade negotiations, potentially at the expense of economic stability [7].