Mark Carney, a former central banker, won the leadership race for Canada’s ruling Liberal Party. Official results on Sunday showed he will succeed Justin Trudeau as prime minister.
Carney will take over during a tumultuous time for Canada. The country is in a trade war with the U.S. under President Donald Trump, and a general election is imminent.
Carney, 59, secured 86% of the votes cast. He beat former Finance Minister Chrystia Freeland in a contest where just under 152,000 party members voted.
Carney criticized Trump, saying, “There’s someone who’s trying to weaken our economy.” He added, “He’s attacking Canadian workers, families, and businesses. We can’t let him succeed.” The party gathering responded with loud boos.
Carney also stated, “This won’t be business as usual.” He promised, “We will have to do things that we haven’t imagined before, at speeds we didn’t think possible.”
Trudeau announced his resignation in January after over nine years in power. His approval rating had plummeted, which forced the Liberal Party to quickly find a replacement.
Trudeau remarked, “Make no mistake, this is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given.”
Carney, a political novice, argued that he was the best choice to revive the party. He also believed he was the most suitable candidate to manage trade negotiations with Trump, who threatens tariffs that could cripple Canada’s export-dependent economy.
Trudeau imposed C$30 billion of retaliatory tariffs on the U.S. They were in response to tariffs Trump levied on Canada.
Carney asserted, “My government will keep our tariffs on until the Americans show us respect.”
Carney’s victory marks the first time someone with no political background has become Canadian prime minister. He stated his experience as the first person to govern two G7 central banks, Canada and England, made him the best candidate to deal with Trump.
The prospect of a fresh start for the Liberal Party under Carney, along with Trump’s tariffs and taunts about annexing Canada, led to a remarkable Liberal revival.
The party trailed by 20 points at the start of 2025. However, they are now statistically tied with the Conservatives, led by Pierre Poilievre, in several polls.
A University of British Columbia professor, Richard Johnston, noted, “There is a rallying-around-the-flag moment that we would never have predicted a year ago.” He added, “I think it’s probably true as we speak that the Liberals have been saved from oblivion.”
Polls indicate that neither party is likely to form a majority government. An election must be held by October 20.
Two Liberal Party sources suggested Carney will call an election soon, potentially leading to an earlier vote.
Carney could legally serve as prime minister without a seat in the House of Commons. Tradition dictates that he should seek to win one quickly.
Liberals compared Conservative leader Poilievre to Trump in a recent advertisement. Poilievre then intensified his attacks on Carney.
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