The new deal with the European Union could still run into trouble. The Trump administration faces nearly a dozen lawsuits seeking to have its tariffs declared illegal on the grounds that Mr. Trump does not have the authority to impose them without the consent of Congress. Should those suits succeed, Mr. Trump would be back to square one.

Andrew Hale, a trade policy analyst for the conservative Heritage Foundation, cautioned against reading too much into the deal with the European Union until the text is released and the lawsuits are resolved.

“These are not comprehensive free trade agreements,” he said. “Let’s make that very clear. And much of this may evaporate.”

It’s not often that I agree somehow with the Heritage Foundation. Even that happens. Let’s see what the future holds with this.