This cartoon was published in the British newspaper the Daily Telegraph
on January 30th 1973.
Peace talks over Vietnam had been going on for years in Paris, with Britain
and the USSR acting as mediators.
On January 23rd 1973 Nixon announced that an agreement had been reached
and that US troops would be withdrawing from Vietnam from January 28th. They
would all be out in 60 days.
Nixon called the deal 'Peace With Honour'. However, most people regarded
it as an admission that the USA was simply unable to win the war.
This feeling was reinforced two years later when South Vietnam was invaded
and became part of the Communist republic of Vietnam.