The White House touted the rollback of tariffs on China as a “historic trade win” for the U.S., but The Wall Street Journal thinks it looked more like a surrender.

In a piece titled “The Great Trump Tariff Rollback,” The Journal‘s editorial board labeled President Donald Trump‘s latest move less a victory than a “major retreat.”

Markets soared on Monday after the Trump administration announced a 90-day pause in its heated trade war with China. The White House lowered its tariff on Chinese imports from 145 percent to 30 percent, while China dropped its levies from 125 percent to 10 percent.