Ivo Daalder, a former U.S. ambassador to NATO, is a senior fellow at Harvard University’s Belfer Center and host of the weekly podcast “World Review with Ivo Daalder.” He writes POLITICO’s From Across the Pond column.

Three hundred days into U.S. President Donald Trump’s second term, how is the world faring?

According to the president and his supporters, the answer is clear: never better — at least as far as the U.S. is concerned.

This isn’t a judgement I personally share, but let’s take a closer look at the case that Trump and his defenders are making for the success of his foreign policy to date — and whether it tells the whole story.

By forcing Europe and other allies to pay more for defense, to take on a bigger share of the burden of helping Ukraine, and to buy more weapons from the U.S., Trump has boosted the collective strength of America and its allies to unprecedented heights. Or so the argument goes.

This year, the U.S. increased defense spending by about 13 percent to reach $1 trillion. And its NATO allies — perennial spending laggards — have now committed to spending 5 percent of their GDP on defense. That’s a bigger share than the U.S. will spend.

Building on this growing strength, according to Robert O’Brien, Trump’s first-term national security adviser, the U.S. president has “positioned himself as the indispensable global statesman by driving efforts to bring peace to other, often far-flung and long-standing disputes.”

Trump himself frequently touts this peacemaking prowess, boasting that he has “ended 8 wars in 8 months.” And to be fair, in some of these cases he did teach a masterclass in using leverage to get what he wants.

Nowhere was this more evident than in the Middle East, where, as one seasoned diplomat told me: “No one can say no to him.” The result was the ceasefire in Gaza, the return of all living hostages to Israel, and an end to Israel’s longest, most devastating war.

Finally, both Trump and his officials argue, he has remade the global trading order to the benefit of the U.S. He has used tariffs and threats to force open markets long closed to American goods, to reap revenues by charging for the privilege of access to the world’s greatest consumer market, and to strong-arm other countries into paying for America’s reindustrialization.

Taken at face value, all of this adds up to quite a record — but an incomplete one, to say the least. Looking at the specifics, the picture becomes much more complicated, uneven and often quite different.

Take alliances, for example. It’s true, of course, that many NATO allies have now committed to spending much more on defense. It’s even true that Trump “will achieve something NO American president in decades could get done” — as NATO Secretary-General Mark Rutte texted Trump shortly before the NATO summit last June where that commitment was agreed.

But what Rutte didn’t say is that this is because no other U.S. president has ever threatened to walk away from the alliance, or to abandon the solemn commitment to collective defense enshrined in Article 5 of the NATO charter. Led by Germany, NATO allies are boosting their defense spending, but the main reason is because they no longer believe they can rely on the U.S. ( Another one is that they fear Russia — an anxiety Trump doesn’t share.)

Trump’s approach to Ukraine clearly underscores this change. He ended all military and economic assistance to the country, forcing it into an agreement to share its natural resources in return for U.S. aid that was previously provided cost-free. He then sought to force Ukraine’s president to sign a deal that would effectively mean Kyiv’s capitulation to Russian aggression, and only agreed to ship weapons if Europe paid for them.

None of this is the behavior of an ally who believes their mutual alliance reflects shared interests or common threat perceptions. It’s the behavior of someone who has turned security alliances into a protection racket.

As for Trump’s self-declared peacemaking prowess, there’s much less than meets the eye.

Yes, the U.S. president skillfully maneuvered Israel and Hamas into a ceasefire and the return of hostages — but this is hardly the lasting peace he proclaimed. The divide between Israelis and Palestinians is deeper now than at any time in recent history, and the prospect of renewed violence is vastly greater than any enduring peace.

Many of the other conflicts Trump claims to have ended suffer from similar shortcomings. India and Pakistan are one incident away from a return to cross-border fighting. Cambodia and Thailand suspended their agreement less than 30 days after Trump presided over its signing. And neither Rwanda nor the Congo are implementing the terms of the agreement they initialed in Washington earlier this year.

Peace, it turns out, is not the same as stopping the shooting.

As for trade, Trump has indeed upended the global system. But to what end? The escalating tariff war with China has settled into an uncomfortable truce akin to the situation that existed when he first returned to office.

Meanwhile, many big agreements — including with the EU — have yet to be finalized, as Trump has always been more interested in declaring a win than in negotiating the details. In fact, it’s highly uncertain whether Europe, Japan or Korea will actually make the kinds of new investments Trump has touted.

And just last week, Trump abandoned tariffs on hundreds of food and other items in order to address a growing domestic political backlash stemming from rising prices on groceries and other basics.

Overall, Trump has been much more skillful at wrecking things than building them. He has destroyed a global order that was painstakingly built by his predecessors over many decades; an order that produced more prosperity, greater security and broader freedom for Americans than at any time in history.

To be sure, the system had its flaws and needed reform. But to abandon it without considering what will take its place is the height of folly. Folly for which Americans, no less than others, will pay the ultimate price.