Former central banker Mark Carney to become Canada's next prime minister

Former central banker Mark Carney will succeed Justin Trudeau as Canada's prime minister after winning the race to become leader of the ruling Liberal Party on Sunday (Mar. 9).

Carney, 59, secured 85.9 per cent of votes to beat former finance minister Chrystia Freeland, the former government house leader Karina Gould, and the former member of parliament Frank Baylis, Reuters, CNN, and The Guardian reported.

It is still uncertain when Carney, who was governor of the Bank of Canada from 2008 to 2013 and governor of the Bank of England from 2013 to 2020, will assume office.

According to reports, this will be decided by "incoming and outgoing leaders".

Tat-for-tat tariffs

Carney will be taking office during a challenging period for Canada, which is in the middle of a trade war with the U.S., and is preparing for the upcoming general elections.

U.S. President Donald Trump in February announced that he would impose tariffs of 25 per cent on goods from Canada.

Canada responded with retaliatory tariffs, with Trudeau announcing 25 per cent tariffs on C$30 billion (S$27.8 billion) worth of U.S. goods, such as tobacco, household appliances, and military gears.

"My government will keep our tariffs on until the Americans show us respect," Carney said during his victory speech on Sunday.

Carney criticised the Trump administration's tariffs and said that the U.S. president is attacking Canadian families, workers, and businesses.

"We cannot let him succeed, and we won't."

Leading the Liberal Party into the next federal elections

Carney, who has never run for political office before, is also expected to lead the Liberal Party into the next federal election, which must be held before October.

Until last month, the opposition Conservative Party enjoyed a 20-point lead over the Liberal Party, but Trump's first month in office sharply rebounded support for the Liberal Party.

Rising anti-Trump sentiment has undermined the popularity of Conservative leader Pierre Poilievre, who has previously been compared to Trump.

Citing unnamed Liberal Party sources, Reuters and The Guardian reported that Carney would call for a snap election in the coming weeks.

Top image via @MarkJCarney/X