Cancelling the tariff threat is not a sign of trade friendliness; it more resembles a "tactical retreat."

Many people automatically associate "cancelling the tariff threat" with easing relations and improving trade, but the reality is often less warm. This is more like a tactical withdrawal rather than a strategic shift.

Trump is aware that applying pressure to multiple economies simultaneously at this stage can easily trigger chain reactions. Instead of opening fire across the board, it’s better to focus on key areas. Temporarily delaying tariffs on Europe does not mean reducing pressure on other fronts; it’s just a reallocation of the battle lines.
From this perspective, the market’s interpretation also needs to be cautious. Short-term emotional recovery is reasonable, but long-term uncertainties remain. What truly matters is not "what has been canceled," but "where the next step will point to."

In Trump’s policy toolbox, tariffs will never disappear; they will only reappear at different times and against different targets.
#特朗普取消对欧关税威胁