- 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.
- 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.
- “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.
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