Update (10:26pm ET): Just after 10pm ET, and just under 10 hours after Trump lobbed the first shot in the first trade war of his second admin, the White House announced that Colombia had agreed to all of Trump's terms, "including the unrestricted acceptance of all illegal aliens from Colombia returned from the United States, including on U.S. military aircraft, without limitation or delay."

Based on this agreement, the White House notes, the hastily drafted tariffs and sanctions "will be held in reserve, and not signed, unless Colombia fails to honor this agreement." The visa sanctions issued by the State Department, and enhanced inspections from Customs and Border Protection, will remain in effect until the first planeload of Colombian deportees is successfully returned.

The statement concludes by noting that President Trump "will continue to fiercely protect our nation's sovereignty, and he expects all other nations of the world to fully cooperate in accepting the deportation of their citizens illegally present in the United States."

And just like that, Trump wins, in a victory so complete even the president of Colombia reposted his own loss.

The only problem: the next trade wars - and there will be many - won't be nearly as easy to win...

Update (6:50pm ET): Despite appearing to cave earlier when he ordered the use of the presidential plane to repatraite illegal aliens from the US, late on Sunday Colombia President Gustavo Petro ordered an increase of import tariffs on goods from the United States in retaliation to President Trump's tariffs and sanctions.

Petro, in a post on the social platform X, said he ordered the "foreign trade minister to raise import tariffs from the U.S. by 25%."

"American products whose price will rise within the national economy must be replaced by national production, and the government will help in this regard," the post continued.