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Fortune
Fortune
Eva Roytburg

Trump's trillion-dollar TACO that wasn't: Iran confronts the master of the deal with a partner he can't bully

U.S. President Donald Trump speaks to reporters before boarding Air Force One at Palm Beach International Airport on March 23, 2026 in West Palm Beach, Florida. (Credit: Roberto Schmidt/Getty Images)

On Monday morning, it looked like President Donald Trump, the self-proclaimed “Master of the Deal,” had done it again.

After roiling oil markets over the weekend with an ultimatum on Iran, he declared victory before the opening bell, posting about 15 points of agreement and pausing his threat to bomb the country’s power plants. Nearly $2 trillion was moved within minutes as Wall Street clamored to do what it has learned to do with this president: put some TACO dip on its proverbial chip.

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