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‘Taco Thursday’: Trump trolled after extending Mexico trade deadline
Donald Trump’s pausing of higher import taxes on a wide range of Mexican products a day before they were set to start saw the president mocked on social media with the now-familiar “TACO” taunt.
The nickname TACO, short for “Trump Always Chickens Out,” stems from the president’s habit of making tariff threats, resulting in a drop in the markets, only for him to change course and see the markets rebound.
Trump announced the move in a Truth Social post following a phone call with Mexican President Gloria Sheinbaum on Thursday.
The reaction from some of Trump’s most fervent critics was swift, predictable, and Mexican food-themed, invoking the TACO nickname investors have bestowed on the president for his economic flip-flopping.
White House Correspondent Andrew Feinberg has more:
James Liddell1 August 2025 08:44
Trump unveils new tariff plan – with further delays
The Trump administration has announced its new trade policy and tariff plan just hours before the August 1 deadline.
On Thursday night, the White House announced a "universal" tariff for goods coming into U.S. will remain at 10 percent. That is the same level set during his "Liberation Day" event in early April when he first announced the tariffs.
But that 10 percent rate will only apply to countries with a trade surplus — in other words, countries to which the U.S. exports more than it imports.
Countries with a trade deficit with the U.S. will be subject to an at least 15 percent tariff under the new policy.
For many of the countries subjected to Trump's “reciprocal” tariffs levied in April, that rate will be lower than what they were previously paying, though it will be higher for a small group of nations.
Greg Graziosi has more from Washington, D.C.:
James Liddell1 August 2025 08:40
