Trump Won A Quiet Victory Over Markets

And while the president hates the notion of TACO, he has privately made a similar point, a person familiar with the matter told me: It’s funny there is a perception that he caves to pressure when he tends to still end up in a much better place, from his perspective, than he started. After all, for all his swerves and concessions, the president has not abandoned a global trade war that has fueled inflation or a stalemated conflict with Iran that has rattled oil markets. And financial markets have become pretty zen about all of it. Tariffs aren’t the only…