America has struck a truce with China over trade. Its swingeing 125% “reciprocal” tariffs will be paused while the two countries talk. In theory the levies are due to return, but the mood has certainly lifted. Maybe the world economy will soon be free from the chaos unleashed on “Liberation Day”. 

Speaking of agreements, Donald Trump is off to the Middle East, the first foreign trip of his second term. He will probably return touting flashy deals with improbable dollar values. But his three-country jaunt may signal real changes in America’s relationships in the region. One country he is not visiting is Israel.