On What Really Matters, Walter Russell Mead discusses Donald Trump’s take-it-or-leave-it Ukraine deal, why he walked back threats against China and the Federal Reserve, what the terror attack in Kashmir means for Narendra Modi’s India, and the legacy of Pope Francis.
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Cover: Edited version of US Air Force, US Navy, and US Marine Corps aircraft along with US Army Patriot missile batteries line up on the runway for an elephant walk during a routine operational readiness exercise at Kadena Air Base in Japan on May 6, 2025. (US Air Force)