The Wall Street Journal wrote last night (May 13th): "US President Trump previously launched a global trade war with the goal of leading the revival of American manufacturing. However, just weeks after the tariff dispute began, Trump has backed down. Facing volatile markets and uneasy allies, Trump is softening his tough tariff rhetoric while he and his senior advisors are seeking to reach trade agreements with allies and rivals."
[Smart Comment]: No matter what Trump is boasting about, it is evident from the momentum that he has suffered a significant setback. The trade war initiated by Trump has ultimately been defeated by economic reality; his agreement with China is not a victory for the United States, but rather an inevitable compromise. Trump's series of actions are showing the world that the US cannot afford comprehensive sanctions against China. After a display of bluster, Trump finally concluded in haste. That is why Trump is now increasing pressure on traditional allies such as the EU and Japan.
Source: https://www.toutiao.com/article/1832050727524360/
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