The term “trade war” has always sounded dramatic — almost too dramatic for what many hoped would be a technical dispute over economic leverage.

But wars, whether military or monetary, are rarely clean, and they often end differently than they began. The latest developments in the Trump administration’s tariff policy — particularly the sharp reversal on China — are proof of that.

At the start of this saga, the White House levied tariffs on virtually all trading partners, signaling a tough, America First approach to trade. It was bold. It was disruptive. And for a time, it forced nations like China to take a second look at their trade imbalances with the United States.

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