Why did Boniface VIII and Philip IV temporarily reconcile after their first conflict?

Boniface VIII and Philip IV of France experienced a temporary reconciliation following their initial conflict over the taxation of the clergy because Boniface was forced to retreat from the demands of his papal bull Clericis laicos.12

Philip IV had countered the bull with retaliatory measures, including forbidding the export of money and valuables from France, which severely threatened papal revenues. Furthermore, Boniface faced a serious internal insurrection from the Colonna family, a powerful anti-papal Roman faction that had robbed the papal treasury and conspired with the French king.32

To mollify Philip and stabilize his position, Boniface made significant concessions in July 1297, effectively proclaiming the legitimacy of clerical taxation without papal permission when a ruler attested to its necessity. This period of reconciliation was further emphasized by Boniface’s canonization of Philip’s ancestor, Louis IX, in 1297.23