This marks the second consecutive week in which Trump’s pace of breaking norms slowed considerably. Trump finds himself on the losing end of a number of court cases, which are pausing or nullifying many of his early actions. Trump is still in search of wins of any kind, as he is failing or falling short on major issues including foreign policy, immigration, and the economy. Trump lashed out in frustration this week, not at celebrities like last week, but instead at America’s top university and a top company, in what the WSJ Editorial Board termed a gift to China.

Wall Street has dubbed a new term, “TACO Trade,” or Trump Always Chickens Out, meaning he makes a threat, then pulls back. He did that once again this week, threatening the European Union on Friday, and pulling back on Sunday. As we passed the midpoint of his 90 day tariff pause, Trump has yet to finalize a single trade deal.