On What Really Matters, Walter Russell Mead discusses the impact of tariffs on China’s economy, Trump’s mineral deal with Ukraine, the Canadian election, and how rising tensions between India and Pakistan could suck the United States and China into war.

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A robot from AgiBot is seen during the Global Developer Conference, organized by the Shanghai AI Industry Association, in Shanghai on February 21, 2025. (Hector Retamal via Getty Images)