‘TACO’ label resurfaces after Trump delays Iran threat

US President Donald Trump on Monday (23 March) delayed a previously issued threat to target Iran's power infrastructure, a move that has reignited criticism branding him as "TACO Trump," reports USA Today.

Trump had earlier urged Iran to reopen the Strait of Hormuz, a key maritime route through which roughly one-fifth of global oil supply is transported.

In a post on Truth Social dated 21 March, he set a 48-hour deadline, warning that failure to comply would result in the United States "obliterating" Iran's power facilities.

In response, Iran warned it could launch retaliatory attacks targeting vital energy and water infrastructure.

However, when the deadline arrived, Trump announced a five-day delay, citing what he described as "good and productive conversations" with Iran aimed at easing tensions in the Middle East.

Iranian state media portrayed the move as a step back by Washington, while Iran's parliamentary speaker rejected claims that any negotiations had taken place.

The developments have revived criticism of Trump, with some detractors once again referring to him as "TACO Trump."

What does TACO mean?

The term "TACO" originates from a phrase coined by Robert Armstrong in May 2025.

Writing in the Financial Times, Armstrong introduced the concept of the "TACO trade" to describe a pattern observed by investors amid Trump's fluctuating tariff policies.

"TACO" stands for "Trump always chickens out."

The term reflects a market strategy in which investors buy assets after prices fall following Trump's announcements of aggressive tariffs, anticipating that he may later reverse course, leading to a rebound.

Trump has dismissed the label in the past.

When questioned by a reporter, he responded sharply, saying, "you ask a nasty question like that. It's called negotiation."

Separately, on 20 February, the Supreme Court of the United States ruled that several of Trump's tariff measures were unlawful.