CNBC Daily Open: Have Trump’s strikes on Iran bolstered or eroded his credibility?
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CNBC Daily Open: Have Trump’s strikes on Iran bolstered or eroded his credibility?
The U.S. conducted air strikes on three of Iran’s nuclear sites, entering Israel’s war against Tehran. The timing was unexpected. On Thursday, President Donald Trump said he was still considering involvement and would arrive at a decision “within the next two weeks” Financial and political analysts had largely taken that phrase as code word for inaction. The TACO trade is an acronym that stands for “Trump Always Chickens Out”
United States on Saturday conducted air strikes on three of Iran’s nuclear sites, entering Israel’s war against Tehran. The timing was unexpected. On Thursday, U.S. President Donald Trump said he was still considering U.S. involvement and would arrive at a decision “within the next two weeks.”
Financial and political analysts had largely taken that phrase as code word for inaction.
“There is also skepticism that the ‘two-week’ timetable is a too familiar saying used by the President to delay making any major decision,” wrote Jay Woods, chief global strategist at Freedom Capital Markets.
Indeed, Trump has commonly neglected to follow up after giving a “two week” timeframe on major actions, according to NBC News.
And who can forget the TACO trade? It’s an acronym that stands for “Trump Always Chickens Out” — which describes a pattern of the U.S. president threatening heavy tariffs, weighing down markets, but pausing or reducing their severity later on, helping stocks to rebound.
“Trump has to bury the TACO before the TACO buries him … he’s been forced to stand down on many occasion, and that has cost him a lot of credibility,” said David WOO, CEO of David Woo Unbound.
And so Trump followed up on his threat, and ahead of the proposed two-week timeline.
“There will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days,” Trump said on Saturday evening.
But given Trump’s criticism of U.S. getting involved in wars under other presidents, does America bombing Iran add to his credibility, or erode it further?