There is a game of chicken going on
Trump chickened out after Wall Street plunged.
The game of chicken: también conocido como hawk-dove game or snowdrift game, is a model of conflict for two players in game theory. The principle of the game is that while the ideal outcome is for one player to yield (to avoid the worst outcome if neither yields), individuals try to avoid it out of pride, not wanting to look like "chickens." Each player taunts the other to increase the risk of shame in yielding. However, when one player yields, the conflict is avoided, and the game essentially ends. (Wikipedia)
Chicken (adj. and noun): gallina, cobarde, rajarse
to chicken out: amilanarse, acobardarse, echarse atrás. Decidir no hacer algo por miedo.