The newspaper also called out the “MAGA echo chamber” for backing the president’s tariffs.

The Wall Street Journal said Donald Trump is “finally listening to reality” as he caves on his tariff agenda and backs off his threats to try to fire Federal Reserve Chair Jerome Powell.

“The MAGA media echo chamber that praised Mr. Trump’s tariffs as strategic genius looks foolish,” the newspaper’s editorial board wrote on Wednesday evening.

Trump placed massive tariffs on many nations, causing markets to crash, then reduced most of them except for those on China. Next, he issued carve-outs for specific types of products coming from China.

And on Wednesday, he appeared to be backing away from the remaining tariffs on China as well, saying they “will come down substantially.”