Move over TACO, Wall Street has a new nickname for Trump: NACHO Trump’s new nickname indicates people are not confident he will secure a deal with Iran to open the Strait of Hormuz President Donald Trump’s back-and-forth with Iran over opening the Strait of Hormuz has led to a new nickname inspired by TACO, the president’s acronym nickname for issuing and reversing threats. “We thought we were getting a TACO, ‘Trump Always Chickens Out.’ But so far we are getting a NACHO, ‘Not A Chance Hormuz Opens,’” Bloomberg columnist Javier Blas wrote on X. The new nickname, bestowed by a financial trader, according to Blas, reflects the public’s frustration with the on-again, off-again blockade in the Strait that has disrupted global oil supply, causing gas prices to rise. But it also indicates that some are not confident Trump can secure a deal with Iran that will alleviate tensions in the Strait of Hormuz and allow ships carrying oil to pass through. Despite being in the middle of a ceasefire, Iran has closed the Strait of Hormuz and the U.S. has initiated a blockade of Iranian ports. Iran has offered to reopen the waterway if the U.S. concludes its blockade, but the president has refused unless Iran concedes to his demands about ending its nuclear enrichment program. Already, peace talks between the U.S., Israel and Iran have failed once, and an attempt at a second round of negotiations fell through this past week when Trump summoned his top negotiators back to D.C. Gas prices have gone up across the country as a result of traffic being halted in the Strait, the waterway responsible for transporting roughly 20 percent of the world’s crude oil supply. Earlier this month, the average cost of a gallon of regular gas hit $4 for the first time since August 2022. The Independent has asked the White House for comment. The new nickname for the president is a direct spin-off of “TACO,” which stands for Trump Always Chickens Out. It’s been used to insult the president for issuing meaningless threats that he does not fulfill. “TACO” originated from a Financial Times columnist who observed Trump’s pattern of making tariff threats, causing market disruptions and then reversing them. Wall Street traders have used the term “TACO” to describe the process of buying stocks after the president announced certain tariffs, then selling them later when those tariff threats are reversed or changed. When asked about the nickname last year, Trump called it “the nastiest question” and denied chickening out. “I chicken out? Oh, I’ve never heard that,” the president said before claiming his method was “called negotiation.” Trump allies on Fox News initially tried to take back the “TACO” acronym with its own version of “NACHO” – Never Avoids Confronting Hard Obstacles. That version, seemingly, failed to catch on. Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their repliesComments
Move over TACO, Wall Street has a new nickname for Trump: NACHO Trump’s new nickname indicates people are not confident he will secure a deal with Iran to open the Strait of Hormuz President Donald Trump’s back-and-forth with Iran over opening the Strait of Hormuz has led to a ne…
See this event through different lenses
Compare how Western, Iranian, Israeli, Global South, and Pro-Peace perspectives frame this event.
Compare PerspectivesLoading notes...
International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.