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.

After President Donald Trump paused his “Liberation Day” tariffs in April, his trade adviser Peter Navarro promised that the administration would deliver “90 deals in 90 days.” But that deadline came and went Wednesday with the White House 88 trade deals short.