Continued stress with China aside, there was de-escalation when it came to the EU, and not vocally and intermittently threatening our biggest trading partners--Canada and Mexico--is also important. The strength of any country's position in a trade-fight depends on whether they have options and can trade with somebody else for the things they need most.

In contrast, Trump's approach of having the US piss off our 4 biggest trading partners simultaneously is both terrible and terribly stupid. Even just the threats (or blathering trial-ballons of "very fine people are telling me I oughta") will still affect companies' choices of how and where to structure their supply-chains.