Beau of The Fifth Column

I guess I should start with the big news.

Carney beat Trump.

There's really no other way to say that.

This one deal is just the first step, but the momentum has shifted, and Trump is kind of out of juice.

Trump's tariff policy did what the experts said, drove longtime allies closer to adversarial nations.

As we talked about a few days ago, Canadian Prime Minister Mark Carney went to China.

As we suggested, he came home with trade agreements.

Trump's erratic trade policy created uncertainty.

Markets hate uncertainty.

Speaking of China, Carney said, quote,

Predictable is the opposite of uncertainty.

Markets like predictability.

Trump is trying to downplay the massive backfire that just occurred.

Quote,

Well, it's okay.

That's what he should be doing, and it's a good thing for him to sign a trade deal.

If you can get a deal with China, you should do that.

Let's be clear.

Trump's tariffs were meant to strong-arm Canada on the economy.

The problem is that Canada put a world-renowned economist in the prime minister's slot.