If you did not hear about one of President Donald Trump’s latest tariff-related victories last week, you have company. It escaped our attention, too.

Of course, the global establishment has enriched itself on the current system of “free trade.” So you must look closely to find positive reporting from the establishment media on the effects of Trump’s tariffs.

According to Bloomberg, the economic advisory firm Oxford Economics calculated last week that the new Canadian government under Prime Minister Mark Carney has quietly adopted a conciliatory approach in the wake of Trump’s aggressive tariff policies, resulting in a minuscule tariff increase of “nearly zero” on most U.S. products entering Canada.

Tony Stillo, Oxford’s director of Canada economics, explained.

“It’s a very strategic approach from a new prime minister to really say, ‘We’re not going to have a retaliation,’” Stillo said in an interview. “It’s a strategic play on the government’s part to not damage the Canadian economy.”

In March, the Canadian government retaliated against Trump’s tariffs by imposing its own 25 percent import taxes. Those taxes affected roughly $43 billion worth of American-made imports.

Then, another round of Canadian tariffs hit U.S.-made autos in April.

A series of exemptions from Carney’s government, however, have effectively reduced those tariff increases to “nearly zero.”

And that represents a significant victory for Trump.

Of course, the media cannot report it that way, nor can the Canadian government frame it that way.

For instance, Saturday on the social media platform X, Canadian finance minister Francois-Philippe Champagne disputed the Oxford analysis.

More specifically, Champagne disputed conservative rival Pierre Poilievre’s attempt to use the Oxford analysis and the Carney government’s capitulation to Trump as a means of scoring political points.

“More of the same falsehoods,” Champagne wrote, citing Poilievre’s use of the Oxford analysis.

“To retaliate against U.S. tariffs, Canada launched largest-ever response — including $60B of tariffs on end-use goods. 70% of those tariffs are still in place. We temporarily and publicly paused tariffs on goods for health & public safety reasons,” the finance minister added.

More of the same falsehoods.

To retaliate against U.S. tariffs, Canada launched largest-ever response — including $60B of tariffs on end-use goods. 70% of those tariffs are still in place.

We temporarily and publicly paused tariffs on goods for health & public safety reasons. pic.twitter.com/qsLlxnzYlr

— François-Philippe Champagne (FPC) ???????? (@FP_Champagne) May 18, 2025

Of course they did. We believe you, minister. It was all for “health & public safety reasons.”

One of the many funny and admirable things about Trump is that for all his bravado, he will allow his negotiating partners to have their tough talk and victory narratives as long as he gets what he wants from them. And on tariffs he has always held the upper hand.

Just don’t expect the entire establishment media to report that anytime soon.

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