Mark Carney has triumphed in the race to succeed Justin Trudeau as Canada’s prime minister, vowing to win the trade war with US President Donald Trump while steering the nation through a period of profound instability.
Having previously served as the governor of both the Canadian Central Bank and the Bank of England, Carney decisively defeated three other candidates in the Liberal Party’s leadership contest.
In his victory speech, Carney, aged 59, sharply criticized Trump, who has levied tariffs on Canada and expressed a desire to annex it as the 51st state. Carney firmly stated, “Americans should make no mistake. In trade, as in hockey, Canada will win.”
Carney is set to be sworn in as Prime Minister shortly and will lead the Liberals into the upcoming general election, which is expected to be announced soon.
Despite never having held elected office, Carney is now the prime minister-designate.
The Liberal leadership contest began in January following Trudeau’s resignation after nearly ten years at the helm, prompted by growing dissatisfaction among voters over issues like the housing crisis and rising living costs.
Carney secured a resounding first-round victory on Sunday evening, capturing 85.9% of the vote and defeating his closest rival, former Finance Minister Chrystia Freeland.
Loud cheers erupted as the results were announced before a crowd of approximately 1,600 party supporters in Ottawa, the capital of Canada.
The party reported that over 150,000 people participated in the voting process.
Carney will head a minority government and might either call an early general election or face a potential no-confidence vote from opposition parties later in the month.
Since Trudeau’s departure, the governing Liberals have experienced a significant political resurgence, driven by Canadian reactions to Trump’s trade threats and his ambitions to annex their nation.
At the year’s start, they were trailing the Conservatives, led by Pierre Poilievre, by more than 20 points in the polls.
They have since closed this gap, with some polls now showing them neck and neck with Poilievre’s Conservatives.
Carney devoted much of his speech to condemning what he described as Trump’s “unjustified tariffs” against Canada, its largest trading partner.
The US initially imposed a 25% tariff on Canadian goods last Tuesday, only to revise these measures days later to exempt goods that comply with an existing trade agreement.
In retaliation, Canada imposed its own tariffs as Trudeau accused his American counterpart of attempting to undermine Canada’s economy.
Carney echoed these sentiments in his victory speech, accusing Trump of targeting Canadian workers, families, and businesses.
“We cannot allow him to succeed,” he declared, to loud boos from the audience.
He affirmed that his administration would maintain tariffs on US imports “until the Americans treat us with respect.”
Canada’s economy, heavily reliant on US trade, faces the risk of recession if Trump’s extensive tariff threats are fully implemented.
“I know these are dark days,” Carney said. “Dark days brought on by a country we can no longer trust.”
“We’re getting over the shock, but let us never forget the lessons: we have to look after ourselves and we have to look out for each other. We need to pull together in the tough days ahead.”
Carney also committed to “securing our borders,” responding to Trump’s claims that Canada has not adequately managed the migration and fentanyl flows heading south.
Trump even featured in Carney’s critique of his main rival, Conservative leader Poilievre.
“Pierre Poilievre’s plan will leave us divided and ready to be conquered,” said Carney.
“A person who worships at the altar of Donald Trump will kneel before him, not stand up to him.”
Just before Carney took the stage, Trudeau delivered a heartfelt goodbye, reflecting on his 12 years as Liberal leader.
He warned of the “existential threat” posed by the US under Trump.
Following Trudeau’s resignation, the Conservatives have pivoted politically, criticizing Carney as not representing change but rather being “just like Justin.”
They accuse the Liberals of a “sneaky” plan to win a fourth term by simply substituting their leader.
Poilievre’s party has also accused Carney of lying about his role in moving investment firm Brookfield Asset Management’s headquarters from Toronto to New York.
Carney stated that the formal decision by shareholders to relocate the firm was made after he left the board at the start of this year, despite a letter that surfaced showing he had recommended the move in December.
