Donald Trump is quietly gearing up to roll back some of the tariffs he promised would make the country “rich as hell” as his approval rating plummets amid an affordability crisis.
The president slapped tariffs of up to 50 percent on steel and aluminum imports last summer, boasting that the move would provide a “big jolt” to U.S. industry.
But in a humiliating retreat, and keeping true to the nickname he has earned for his chaotic approach to trade policy—“TACO,” short for “Trump Always Chickens Out”—Trump now plans to scale back some of these tariffs as cost-of-living pressures drag down his approval ratings, the Financial Times reported on Friday, citing three people familiar with the matter.
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