The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

President Donald Trump got some good news this week related to his trade war with the world. First, he secured a 90-day tariff truce with China – breathing room to negotiate further. Then, newly released inflation figures suggested his import duties have not really raised prices for American consumers – yet.

Diplomats with the European Union are still waiting for in-depth negotiations to begin. And it's unclear how quickly a substantive agreement with China could be reached.