Ottawa, Canada – Former Bank of Canada and Bank of England governor Mark Carney has been elected as the new leader of Canada’s ruling Liberal Party and will become the country’s next prime minister.

Carney secured a landslide victory in the party leadership race, winning 85.9% of the vote. He replaces Justin Trudeau, who announced his resignation in January after more than nine years in office.

The transition marks a significant shift in Canadian politics, as Carney has never held elected office before. His leadership will be tested immediately, with a general election required no later than October 20. The opposition Conservatives currently hold a slight lead in the polls, making the coming months crucial for Carney’s government.

Challenges ahead: US trade tensions and sovereignty concerns

One of Carney’s most pressing issues will be dealing with the United States, where President Donald Trump has imposed tariffs on Canadian goods and made controversial comments about annexing Canada.

“Trump is attacking Canadian workers, families, and businesses. We can’t let him succeed,” Carney said following his election. He pledged to maintain retaliatory tariffs on US goods “until the Americans show us respect.”

His predecessor, Trudeau, also warned of an “existential challenge” posed by the US, calling the situation a “nation-defining moment.”

An unconventional leader

Carney’s ascent to the prime ministership is historic, as he becomes the first Canadian leader without prior political experience. A former Goldman Sachs executive, he served as the Bank of Canada’s governor from 2008 to 2013 before being appointed by former UK Prime Minister David Cameron to lead the Bank of England.

His expertise in economic policy could prove vital in stabilising Canada’s economy amid trade uncertainties and upcoming electoral challenges.

Now at the helm of the Liberal Party, Carney must decide when to call the next general election, a decision that could define the future of Canadian politics.