European markets experienced a surge on Thursday following President Trump’s cancellation of planned tariffs on eight European countries, prompting analysts to label it a “Trump Always Chickens Out” (TACO) trade. The FTSE 100, Germany’s Dax, and France’s Cac all saw significant gains, contributing to a broader increase in the pan-European Stoxx 600. This positive shift occurred after Trump had initially threatened tariffs, but reversed course, reportedly after reaching an unspecified deal. The removal of the threat of military action and tariffs provided relief to investors, although concerns remain about their potential return if trade talks falter.
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The moniker “TACO” (Trump Always Chickens Out), initially coined on Wall Street, is rapidly gaining traction, evidenced by a 9,900% increase in Google searches. This surge follows President Trump’s recent policy reversals on tariffs, showcasing his perceived inconsistency. The term’s use has expanded beyond Wall Street, with prominent Democrats employing it against the President. This negative association poses a significant threat to Trump’s carefully cultivated image of decisive leadership.
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To improve profitability and shareholder return, Jack in the Box is implementing its “JACK on Track” plan. This plan includes closing 150-200 underperforming restaurants by the end of 2025 and exploring the potential sale of its Del Taco subsidiary, acquired in 2022 for $575 million. The company aims to streamline operations and focus on growth-oriented investments in technology and restaurant renovations. These actions are intended to strengthen the company’s balance sheet and improve its overall financial outlook. This restructuring will affect approximately 2,200 Jack in the Box and 600 Del Taco locations across the United States.
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John Q. Hosedrinker