At a White Home press briefing Wednesday, President Trump was requested a few new time period circulating on Wall Avenue: The “TACO commerce,” which stands for “Trump at all times chickens out” when it has come to finishing up his threats to impose excessive tariffs on overseas nations.

Trump, who stated he had not heard the time period earlier than, lashed out on the reporter who requested him about it. “Don’t ever say what you stated. That’s a nasty query,” Trump stated. “To me, that’s the nastiest query.”

The origin of “TACO commerce” is credited to Monetary Instances columnist Robert Armstrong, who cited it in a Might 2 article. As described by the New York Instances, it “has been adopted by some to explain the sample by which markets tumble after Mr. Trump makes tariff threats, solely to rebound simply as sharply when he relents and offers nations extra time to barter offers.”

On the briefing Wednesday, CNBC White Home correspondent Megan Casella requested, “Mr. President, Wall Avenue analysts have coined a brand new time period known as the ‘TACO commerce.’ They’re saying ‘Trump at all times chickens out’ in your tariff threats. And that’s why markets are increased this week. What’s your response to that?”

“I rooster out? I’ve by no means heard that. You imply as a result of I decreased [tariffs on] China from 145% that I stated, all the way down to 100 after which down to a different quantity?” Trump stated on the briefing. Presently, Trump’s tariffs on China items is ready at 30%.

Final week, Trump threatened to impose 50% tariffs on items from the European Union efficient June 1 — earlier than suspending that to July 9 to permit for extra time to barter with European buying and selling companions.

“It’s known as negotiation,” Trump stated. “You set a quantity. And should you go down — you realize, if I set a quantity, a ridiculous excessive quantity, and I am going down somewhat bit, you realize, somewhat bit, they need me to carry that quantity, 145% tariff. Even I stated, ‘Man, that actually acquired up.’ You understand how it acquired [up]? Due to fentanyl and lots of different issues. And also you added it up. I stated, ‘The place are we now?’ ‘We’re at 145%.’ I stated, ‘Woo, that’s excessive. That’s excessive’… We have been very good to China… we have been principally going chilly turkey with China, we have been doing no enterprise, due to the tariff, as a result of it was so excessive. And I knew that.”

The trade occurred throughout Trump’s swearing-in ceremony for former Fox Information host Jeanine Pirro as U.S. Lawyer for Washington, D.C. He introduced that he was naming Pirro to the put up after dropping assist within the Senate for his preliminary selection, Ed Martin, over Martin’s views concerning the Jan. 6, 2021, assault on the U.S. Capitol.

Watch Trump’s response to the query concerning the “TACO commerce”: