Trump’s tendency to back off of his most extreme threats recently inspired a Financial Times writer to coin the phrase “ TACO trade ,” for “Trump Always Chickens Out.” But regardless of his reversals,

Wall Street's main indexes were on track for a lower open on Monday after President Donald Trump revealed plans to double tariffs on imported steel and aluminum, fueling more uncertainty around U.S. trade policies.

As trade worries bubble up once again in US markets, some on Wall Street are gaming out how to take advantage of the wild tariff-related selloffs and rallies that have defined the first five months of 2025.