Trump Backs off Trade Hard-Line, To Markets' Delight

``Trump's proposed tariffs on China turned out to be much smaller than feared, and China's initial retaliatory measures were far more modest. And more countries got exemptions from Trump's steel and aluminum tariffs, which now look like a minor deal. And Trump backed off a key Nafta demand that 50% of the parts in vehicles imported from Mexico and Canada be produced in the U.S.'' -- More than any country, Trump has prevailed over our mortal enemy, South Korea! But jokes aside, at least sanity is reigning...