The vast majority of President Donald Trump’s global tariffs were deemed illegal and blocked by the US trade court, dealing a major blow to a pillar of his economic agenda. Separately, Trump bristled at reports of a so-called “TACO” trade, in which investors seize on market tumbles after the president makes tariff threats, predicting he will ultimately relent and equities will rebound. The acronym stands for Trump Always Chickens Out. Bloomberg’s Bill Faries reports.
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