Canadian ruling party elects banker, Mark Carney, as Trudeau’s replacement
Former central banker Mark Carney has been elected leader of Canada’s ruling Liberal Party and will replace Justin Trudeau as prime minister.
According to official results released on Sunday, Carney, 59, received 86 per cent of the votes cast to beat former Finance Minister Chrystia Freeland in a contest in which just under 152,000 party members voted.
Carney will assume leadership amidst a trade war with his country’s longtime ally, the United States, under President Donald Trump, while also preparing for an upcoming general election.
“There’s someone who’s trying to weaken our economy,” Carney said of Trump. “He’s attacking Canadian workers, families, and businesses. We can’t let him succeed.”
Carney assured the party, “This won’t be business as usual. We will have to do things that we haven’t imagined before, at speeds we didn’t think possible.”
Trudeau announced his decision to step down in January 2025 after more than nine years in power, prompting the ruling Liberal Party to swiftly organise a leadership contest to find his replacement.
“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,” Trudeau said.
Despite being a political newcomer, Carney argued that he was the best candidate to revitalise the party and lead trade negotiations with Trump, who is threatening further tariffs that could severely impact Canada’s export-driven economy.
It could be recalled that Trudeau imposed C$30 billion of retaliatory tariffs on the United States in retaliation to tariffs Trump levied on Canada.
“My government will keep our tariffs on until the Americans show us respect,” Carney said.
Carney’s victory marks the first time an inexperienced politician has become Canada’s prime minister.
He said his experience as the first person to govern two G7 central banks in Canada and England makes him the most qualified candidate for the prime minister’s office.
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