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Mark Carney, the former governor of the Bank of Canada and the Bank of England, is set to become Canada’s next prime minister after securing a decisive victory in the Liberal Party leadership race.

Carney’s election comes at a pivotal moment for Canada. The country faces heightened tensions with the United States under President Donald Trump’s administration, which has imposed tariffs and made controversial statements about Canada’s sovereignty.

The 59-year-old Carney won in a landslide victory, securing 85.9% of the vote in the leadership elections that took place on March 9, 2025. He is now set to replace Justin Trudeau, who announced his resignation in January after years of declining popularity. While Trudeau remains in office until Carney is sworn in, the transition signals a shift in leadership just as Canada gears up for an imminent federal election.

Who is Mark Carney?

Carney’s background in finance and crisis management has been widely praised. His leadership at the Bank of Canada helped the country navigate the 2008 global financial crisis, and his tenure at the Bank of England earned him bipartisan respect in the UK. He also served as the United Nations’ special envoy for climate action and finance in 2020, reinforcing his commitment to tackling global economic and environmental challenges.

Despite his extensive economic credentials, Carney is a newcomer to the political arena. His lack of political experience may present challenges, but his strong stance against Trump and his reputation as a skilled crisis manager have garnered widespread support within his party. His candidacy quickly gained momentum, receiving endorsements from numerous Cabinet ministers and Members of Parliament.

The polls are closed. Thank you to everyone who joined us on this campaign — and let’s keep building, together. pic.twitter.com/f9J6E1rg2B

— Mark Carney (@MarkJCarney) March 9, 2025

His only major rival in the leadership race was former Deputy Prime Minister Chrystia Freeland, who managed to secure just eight percent of the vote. Freeland’s political future took a hit after she resigned from Trudeau’s Cabinet in December, following a dispute over her role as finance minister.

Strong message to US

Carney wasted no time in addressing one of the most pressing issues facing his upcoming administration: Trump’s trade war and his rhetoric regarding Canada’s potential annexation. “There is someone who is trying to weaken our economy,” Carney declared. “Donald Trump, as we know, has put unjustified tariffs on what we build, on what we sell, and how we make a living. He’s attacking Canadian families, workers, and businesses, and we cannot let him succeed, and we won’t.”

Carney made it clear that Canada would not back down, stating that retaliatory tariffs would remain in place until the U.S. demonstrated “respect” toward its neighbor. He further invoked Canada’s national identity, drawing a comparison to hockey. “We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves,” Carney said. “The Americans, they should make no mistake: in trade, as in hockey, Canada will win.”

Growing nationalism

Trump’s increasingly aggressive stance toward Canada has sparked a wave of nationalism among Canadians, who have responded with boycotts of American goods and even jeering during the U.S. national anthem at NHL and NBA games. This growing sense of national unity has contributed to the Liberal Party’s recent surge in the polls, boosting its chances in the upcoming parliamentary election.

Carney tapped into this sentiment, warning Canadians about the dangers of U.S. encroachment. “The Americans want our resources, our water, our land, our country. Think about it. If they succeed, they would destroy our way of life,” he said. “In America, health care is big business. In Canada, it is a right.”

He further emphasized the fundamental differences between the two nations. “America is a melting pot. Canada is a mosaic,” Carney asserted. “America is not Canada. And Canada will never, ever be a part of America in any way, shape, or form.”

Election looms as Carney asserts leadership

Carney’s resounding victory marks a stark contrast to the struggling opposition. The Conservative Party had hoped to make the election a referendum on Trudeau, capitalizing on frustrations over rising food and housing costs and increasing immigration. However, Carney’s entrance into the race has shifted the conversation toward Canada’s deteriorating relationship with the U.S.

“These are dark days, dark days brought on by a country we can no longer trust,” Carney said. “We are 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.”

Trump, in response to growing Canadian resistance, has delayed the implementation of a 25% tariff on several Canadian goods for one month, but he has threatened additional tariffs on steel, aluminum, dairy, and other key sectors. The uncertainty surrounding these measures has only added to Canada’s economic concerns.

Thank you, Prime Minister Trudeau. For your hard work, for your leadership, and for your great service to our country. pic.twitter.com/ksPrwtxJ2w

— Mark Carney (@MarkJCarney) March 10, 2025

Challenges ahead

Carney is expected to trigger a federal election in the coming days, either by calling for one himself or by facing a no-confidence vote from opposition parties in Parliament. The election will be a defining moment for Canada, as voters will choose the leader they believe is best suited to handle the country’s fraught relationship with the United States.

Trudeau, in his final appeal to Liberal supporters, underscored the significance of this moment in Canada’s history. “This is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given,” Trudeau said.

As Canada braces for a potentially contentious election, Carney’s leadership will be put to the test. Whether his economic expertise and strong nationalist message will be enough to secure a long-term mandate remains to be seen, but for now, he stands as the country’s next leader at a critical crossroads in Canada-U.S. relations.