The Pakistani Prime Minister announced that the US, Iran, and their respective allies “agreed to an immediate ceasefire including Lebanon.” Without speaking directly with Iran, Trump promoted this as an offramp from the war.

Today, the Israeli military continues attacking Lebanon; in response, Iran continues to close the Strait of Hormuz.

It's hard to imagine a worse outcome for Trump. He has achieved none of his express objectives in Iran, neither regime change nor suppressing Iran's nuclear program.

He can no longer pretend to be a credible negotiating partner. Both his threat to target civilian infrastructure and his claim to have negotiated a ceasefire have been discredited. Neither the Iranian nor Israeli governments listen to him. He's forced into conflict with Netanyahu.

And the pressure on the economy continues.