US President Donald Trump is being trolled online again for "chickening out" after waging tariff wars on countries. This has led to experts coining a new term 'TACO' - short for Trump Always Chickens Out - and the President's backtracking had reportedly led to a rise in the market.

Tariffs were a defining promise of President Donald Trump's campaign, and they have been a defining feature of his second term in office. But just over five months in, many of his tariff proclamations haven’t turned into reality.

Just as investors thought they could take a break from tariff scares, President Trump’s threats of new levies against the EU and Apple threw trade tensions back into focus ahead of a long holiday weekend.

Amid U.S. tariff threats, Taiwan's President Lai commits to buying more U.S. goods. Congressional delegations discuss trade, energy, and defense sales.

The ‘Trump Always Chickens Out’ term refers to the president’s tendency to announce tough policies only to backtrack on those threats later.

Trump threatened Apple with 25% tariffs unless the company starts making their iPhones in the United States. His threat came after Apple CEO Tim Cook said the company would continue manufacturing phones in India to avoid expensive prices for Americans.

A 50 percent tax on European imports would hit the continent hard, hurt the U.S. economy and slow growth globally.

Trump told reporters later on Friday that the 25% tariff would also apply to Samsung 005930.KS and other smartphone makers.