Trump's trade ceasefire

On the president's cessation of trade hostilities with Europe

President Trump looks down in a meeting with Italian Prime Minister.
(Image credit: SAUL LOEB/AFP/Getty Images)

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Facing an "intensifying revolt" from businesses and fellow Republicans, President Trump last week called a quick truce in his European trade war, said Valentina Pop at The Wall Street Journal. In a scramble to prove he'd made at least some progress, Trump pledged to work with the European Commission to negotiate "a broad reduction in tariffs on industrial goods and to cooperate against unfair Chinese trade practices." Europeans hailed the announcement as an important win. The pact with Europe reaffirms a trans-Atlantic free-trade relationship Trump has regularly questioned and heads off new auto tariffs, without major concessions. Privately, European officials called the deal "a bit of a stunt" and said they really hadn't given up anything at all. "Trump finally seems to be realizing the political risks that tariffs pose for him," said Josh Barro at Business Insider. Settling for a deal that's really an agreement "to talk about having more talks," Trump seems to have had "a change of political judgment that spares us maximum trade-war escalation." With steel and aluminum tariffs still in place, though, it's a change in strategy, not a change of heart.

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