A new nickname, “NACHO” (Not A Chance Hormuz Opens), has emerged for US President Donald Trump, with Bloomberg columnist Javier Blas posting about it on X on Wednesday, amid public doubt about Trump’s ability to secure a deal with Iran to reopen the Strait of Hormuz.
Strait of Hormuz remains closed
The Strait of Hormuz, crucial for global oil supply, remains closed by Iran, while the US has blockaded Iranian ports, leading to rising petrol prices. The president has refused to lift the US blockade unless Iran ceases its nuclear enrichment programme, despite Iran offering to reopen the waterway if the US concludes its blockade.
From TACO to NACHO
“NACHO” is a spin-off from an earlier nickname, “TACO” (Trump Always Chickens Out), which financial traders used to describe the president's pattern of issuing and then reversing threats, particularly regarding tariffs. Previous peace talks between the US, Israel, and Iran have failed, and a second round of negotiations recently collapsed.
