Trump's tariffs have already failed at their main job

is a senior politics correspondent at Vox, covering the White House, elections, and political scandals and investigations. He's worked at Vox since the site's launch in 2014, and before that, he worked as a research assistant at the New Yorker's Washington, DC, bureau. US Treasury Secretary Scott Bessent speaks during a news conference in Geneva on May 12, giving details of "substantial progress" following a two-day closed-door meeting between US and China officials. Fabrice Coffrini/AFP via Getty Images Markets rejoiced as the US and China reached a temporary truce of sorts in their trade war Monday, sharply reducing tariffs in…