Donald Trump has little patience for the press. They exasperate him to no end.
And Trump just knocked this reporter out with an epic takedown they never saw coming.
Trump Defends Tariff Strategy, Rejects Claims of Backing Down
In a lively exchange in the Oval Office on Wednesday, May 28, President Donald Trump sharply rebuffed a reporter’s suggestion that financial markets have remained steady amid his aggressive tariff policies because investors believe he “always chickens out” on his trade threats.
The question, which Trump labeled “nasty,” came during a brief press interaction following the swearing-in of Interim Attorney for the District of Washington, Jeanine Pirro.
CNBC’s White House correspondent Megan Casella sparked the president’s ire when she referenced a new term circulating among Wall Street analysts: the “TACO trade,” shorthand for “Trump always chickens out.”
Casella noted, “Mr. President, Wall Street analysts have coined a new term called the TACO trade. They’re saying ‘Trump always chickens out’ on your tariff threats. And that’s why markets are higher this week. What’s your response to that?”
Visibly irritated, Trump dismissed the premise. “Oh, isn’t that nice. Chicken out. I’ve never heard that,” he said, before launching into a defense of his trade approach.
He pointed to his negotiations with China, where he initially proposed tariffs as high as 145% before reducing them to 100% and later to 30% as part of ongoing talks. “I said you have to open your whole country,” he declared.
Trump also highlighted his discussions with the European Union, which faced a 50% tariff threat. “They called up and they said, ‘Please let’s meet right now,’” he recounted.
“And I said, ‘I’ll give you until July’ … you call that chickening out?” He extended the EU’s deadline from June 1 to July 9 after a call with EU President Ursula von der Leyen, a move he framed as strategic negotiation, not retreat.
The president’s tariff strategy began with a bold action on April 2, which he dubbed “Liberation Day.” He announced a 10% baseline tariff on all imports, followed by targeted rates against nearly every country.
The move initially rattled markets, sending stocks tumbling. However, Trump paused most of these customized tariffs, except those on China, until July 8 to allow his trade team to secure rapid agreements. Markets have since recovered, likely buoyed by optimism over potential deals.
Trump emphasized the economic turnaround under his leadership. “Six months ago, this country was stone-cold dead,” he said.
“People didn’t think it would survive, and you ask a nasty question like that. It’s called negotiation … Don’t ever say what you said. That’s a nasty question.”
He touted $14 trillion in committed investments, contrasting it with what he described as a stagnant economy under his predecessor. “We have the hottest country anywhere in the world,” he asserted, recalling a conversation with Saudi Arabia’s king, who reportedly echoed the sentiment.
Reporter: Wall Street analysts have a new term called the TACO trade.. Saying Trump always chickens out on tariffs…
Trump: I kick out?
Reporter: Chicken out.
Trump: I gave the E.U. a 50% tax tariff. They called up and said, please, let meet right now. You call that… pic.twitter.com/lPQK9iZ70d
— Acyn (@Acyn) May 28, 2025
The administration’s trade policies also included 25% tariffs on automobiles, aluminum, steel, and imports from Canada and Mexico that violate the United States-Mexico-Canada Agreement.
These measures complement the 10% baseline tariff and the 30% tariffs on China, which remain in place as negotiations continue.
Stay tuned to the DC Daily Journal.
