In the U.S. investment community, the "TACO trade"—initially a joke abbreviation for "Trump Always Chickens Out"—has gradually evolved into a mature trading pattern after multiple market cycles. Its core logic is based on the assumption that any tough policy decision will ultimately be "braked" in time before causing severe economic damage. The operating mechanism of this trading pattern is very clear: whenever the White House issues a series of escalating statements, from tariffs to sanctions, market sentiment often deteriorates rapidly, especially affecting risk assets like stocks; however, once this pressure transmits to the bond market, inflation levels, and growth expectations, policy directions begin to be fine-tuned or shifted, triggering a strong market rebound. #trump