From the Wallstreet Journal’s Editorial Board:

If the North American leaders need to cheer about a minor deal so they all claim victory, that’s better for everyone. The need is especially important for Mr. Trump given how much he has boasted that his tariffs are a fool-proof diplomatic weapon against friend or foe. Mr. Trump can’t afford to look like the guy who lost. Ms. Sheinbaum in particular seems to recognize this, and so far she’s playing her Trump cards with skill.

None of this means the tariffs are some genius power play, as the Trump media chorus is boasting. The 25% border tax could return in a month if Mr. Trump is in the wrong mood, or if he doesn’t like something the foreign leaders have said or done. It also isn’t clear what Mr. Trump really wants his tariffs to achieve. Are they about reducing the flow of fentanyl, or is his real goal to rewrite the North American trade deal he signed in his first term? If it’s the latter, there’s more political volatility ahead.

In other words, Trump got nothing new for all his insane retoric and folded like a cheap deck of cards. It’s going to be fun watching Trump’s sycophants twist themselves into pretzels trying to claim this as a victory for the administration.