The stock market being up is probably one of my favorite parts about this month’s report. Why? Because of the irony. 

You see, it’s amazing that our retirement accounts aren’t screaming in as much pain as they were a few months ago when Trump first announced tariffs, and Wikipedia subsequently created a 2025 Stock Market Crash page. Which may make you consider: Hmmmmm, if pauses on tariffs are meant to end soon on Aug. 1, then why isn’t the stock market reacting in the same way?

One answer from economists? Because of Trump’s new nickname: TACO (aka, Trump Always Chickens Out). Meaning, Trump’s trade deals and tariff pauses have been an on-again-off-again affair that the market may have a hard time taking seriously now that it’s meant to be on-again. The attitude seems to be, Why worry until we have to? 

That’s good for citizens, at least, who saw a second month of gains.