Trump in a rage: TACO” meme causes excitement and laughter!

Trump in a rage: TACO” meme causes excitement and laughter!

US President Donald Trump is currently intensely confronted with the acronym “TACO,” which stands for “Trump Always Chickens Out.” The term, coined by columnist Robert Armstrong, has become widespread and refers to Trump's erratic economic policies, particularly his tariff policies. Trump announced radical tariffs against China, but withdrew them after China failed to respond to his threats. Tariffs against the EU were also threatened, but were revised after talks with Brussels.

At a press conference, Trump reacted angrily to a question about “TACO” and described it as the “nastiest question ever.” Despite his explanations, he tried to justify his decisions as not backtracking and became personal with the reporter. The term “TACO” has now spread to other policy areas, which has led to numerous malicious comments and photo montages on the Internet. Best-selling author Stephen King also commented, receiving over 50,000 likes for his post on the topic.

Economic policy and tariffs

In the latest development, Trump has announced a tariff package that will impose 10% tariffs on all imports from countries deemed "worst offenders" starting next Saturday. From April 9th, a mechanism for higher tariffs on certain countries will come into force. The US justifies these measures by arguing that many countries make it difficult to import US products, leading to a trade deficit.

Trade barriers such as subsidies, strict import regulations, intellectual property theft and currency manipulation are also taken into account when collecting tariffs. Trump is citing the International Emergency Economic Powers Act (IEEPA) of 1977 for these measures. The highest tariffs of 50% will be imposed on Lesotho and Saint-Pierre and Miquelon, followed by Cambodia (49%) and Laos (48%). China will be hit with 34% tariffs, on top of existing punitive taxes.

International reactions

EU exports to the USA are subject to 20% tariffs. The US has already imposed 25% tariffs on imported cars as well as steel and aluminum imports. The reactions of international trading partners have been cautious. Britain and Australia raise concerns, while China threatens countermeasures. The EU is also preparing for possible countermeasures, but remains willing to talk. These could include far-reaching counter-tariffs and levies on digital services.

The German economy in particular could suffer significantly from the tariffs, with a potential drop in exports of 20% and a GDP decline of up to 0.5%. Trump has declared a national emergency to justify imposing and maintaining the tariffs, saying they will remain in place until the threat of trade deficits is eliminated. As the “TACO” meme circulates across social media, it remains to be seen how the global economy will adapt to Trump’s decisions.

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