Former governor of the Bank of Canada, Mark Carney, has won the leadership of the country’s ruling Liberal Party, securing 86% of the vote in a decisive victory over former Finance Minister, Chrystia Freeland.
His win positions him to succeed Justin Trudeau as the country’s next prime minister at a critical moment for Canada, which faces escalating trade tensions with the United States under President Donald Trump.
Carney, 59, takes the helm as Canada grapples with the economic fallout in a trade war with its closest ally and prepares for a general election.
Addressing party members after his victory, he delivered a pointed message about Trump’s impact on the Canadian economy.
“There’s someone who’s trying to weaken our economy,” he said, prompting loud boos from the crowd. “He’s attacking Canadian workers, families, and businesses. We can’t let him succeed.”
Tribune Online reports that Trudeau announced his decision to step down in January after more than nine years in power, following a sharp decline in his approval ratings.
In his farewell speech, he underscored the stakes for Canada’s future, saying, “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, who has never held elected office, argued that his experience as a former governor of both the Bank of Canada and the Bank of England made him the right leader to handle tense trade negotiations with Trump.
The U.S. president has threatened additional tariffs that could severely impact Canada’s export-dependent economy. Trudeau had previously responded to U.S. tariffs by imposing C$30 billion in retaliatory measures.
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Carney signaled his readiness to stand firm, stating, “My government will keep our tariffs on until the Americans show us respect.”
According to Reuters, his election marks an unprecedented moment in Canadian politics, as it is the first time a political outsider with no prior elected experience has ascended to the role of prime minister.
His leadership bid was bolstered by the promise of a fresh start for the Liberal Party, which has seen a resurgence in support amid Trump’s aggressive trade policies and his provocative comments about annexing Canada as the 51st U.S. state.
As Carney prepares to take office, he has pledged that his leadership will bring significant change. “This won’t be business as usual,” he said. “We will have to do things that we haven’t imagined before, at speeds we didn’t think possible.”
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