'Trump always chickens out' is a common expression on Wall Street.
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President Trump offered limited specifics regarding a recent agreement reached with NATO Secretary-General Mark Rutte.

'Trump always chickens out' is a common expression on Wall Street.
‘Trump always chickens out’ is a common expression on Wall Street. (AP)

“In light of this understanding, I will not be imposing the tariffs that were set to begin on February 1st,” he stated.

The president’s apparent retreat is the latest example of what his critics refer to as TACO Trump.

Tommy Vietor, speaking to Today, remarked, “It appears positive that President Trump has reconsidered his threats to invade Greenland or impose tariffs across Europe.”

He added, “However, the fact that such statements are being made highlights just how absurd the situation has become and how the United States is perceived as a pariah in many regions.”

Donald Trump has retreated on his ambitions for Greenland.
Donald Trump has retreated on his ambitions for Greenland. (AP)

Vietor expressed skepticism about the significance of Trump’s proposed framework, doubting its potential for substantial impact.

“I doubt there will really be a deal,” he said.

“This is Trump doing what he always does, which is TACO.”

Vietor was baffled that the president would be so focused on Greenland when the American people were demanding action on the economy.

“He’s just a weird mercurial old man who doesn’t seem to know what’s going on,” Vietor said.

“He’s doing things that are unpopular and politically damaging.”

Top Democratic congressman Jim McGovern was no kinder.

“He said a lot of crazy shit today. I think it’s time to take the keys away from grandpa,” he said.

“He doesn’t seem like he’s all there.”

Donald Trump is no longer pushing a military takeover of Greenland.
Donald Trump is no longer pushing a military takeover of Greenland. (AP)
TACO as an acronym emerged from Wall Street, where traders were cashing in on the assumption that the president would back down from his most audacious proposals.

And many traders have made substantial sums of money betting the president wouldn’t keep his word.

“The market is still of the mind that we are going to see this kind of bluster from the get-go — an opening salvo that’s pretty aggressive,” Natixis Investment Managers Solutions’ Garrett Melson told MarketWatch.

“But then it gets dialled back.”

Wall Street jumped today in the wake of Trump’s announcement.

Wall Street jumped on news Donald Trump was backing down on Greenland.
Wall Street jumped on news Donald Trump was backing down on Greenland. (AP)
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