Just 24 hours after unveiling a plan to impose a 20% charge on cargo passing through the Strait of Hormuz, Trump abruptly abandoned the proposal following pressure from key Gulf allies. The swift reversal has reignited criticism over his habit of announcing sweeping policies before changing course, reviving what some market commentators have dubbed the 'TACO' narrative, short for 'Trump Always Chickens Out'.
The U-turn also highlights the difficult balancing act facing the White House. While Trump backed away from a controversial economic measure, his administration simultaneously intensified military pressure on Iran, underscoring how quickly US strategy in the Gulf is evolving.
