So Who Won the Trade War?

Playbook: “Critics will inevitably see this as yet another capitulation from Trump, who — let’s not forget — had been insisting in the run-up to ‘Liberation Day’ that he planned to bring in ‘billions and billions of dollars’ from his reciprocal tariffs.”

“Having swiftly paused most of them following wobbles in the bond market, he focused his efforts on China instead. Now, one month later, amid fears of rising inflation and warnings of empty shelves in the run-up to Christmas, Trump has pulled the plug again.”