geopoliticsmarketsleadership
“The markets have been anticipating TACO — Trump Always Chickens Out. The problem was that acronym was created for tariffs. With tariffs, Trump can unilaterally suspend them just with the stroke of a pen. With this war, the reason oil prices are high is because the Strait of Hormuz is blocked by Iran. Who's blocking the Strait of Hormuz? It's Iran, it's not the United States.”
The TACO analogy is instantly shareable and exposes a fundamental asymmetry between Trump's trade leverage and military leverage that most commentators have missed.
Edward Fishman
7:19