The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

He is raising tariffs on some of America’s most important trading partners, and the world is largely cheering the agreements as victories.

As the tariff pause ends, the Trump administration should pivot to a more targeted and strategic policy that minimizes domestic harm.

Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.