Mark Carney has officially been sworn in as Canada’s 24th prime minister, stepping into the role at a turbulent time marked by escalating tensions with the United States under President Donald Trump’s renewed leadership.
The former central banker—who has led both the Bank of Canada and the Bank of England through major economic crises—was overwhelmingly backed by the ruling Liberal Party to replace Justin Trudeau. His appointment signals a strategic move to reassure Canadians bracing for a potential trade war with their largest trading partner.
Carney, who has never held elected office, faces an immediate political test, with Canada likely heading for a general election in the coming weeks. Trump’s aggressive stance toward Canada, including sweeping import tariffs and comments questioning the country’s viability, is expected to be a key issue in the race.
“Everything in my life has prepared me for this moment,” Carney declared after securing the Liberal leadership.
His background as an investment banker and crisis-era economic leader has positioned him as a strong voice in the face of Trump’s economic policies. Carney insists Canada can “no longer trust” the United States as a reliable ally and vows to defend Canadian sovereignty in any trade negotiations.
In an early show of strength, Carney visited a steel plant in Hamilton, Ontario, just as Trump’s new tariffs took effect, promising to fight for Canadian industry. “We’re ready to negotiate, but respect for Canadian sovereignty is non-negotiable,” he stated.
Carney is also making moves to differentiate himself from Trudeau. While committing to tackling climate change, he plans to scrap the controversial carbon tax on individuals, instead pushing for market-driven solutions. Additionally, he is rolling back a tax on capital gains aimed at Canada’s wealthiest citizens, a move aimed at appealing to centrist voters.
Meanwhile, former Prime Minister Justin Trudeau bid farewell to the nation, reflecting on nearly a decade in power. Though his popularity had waned, Trudeau regained some support in recent months with strong responses to Trump’s economic threats.
With Canada’s political landscape rapidly shifting, all eyes are on Carney. Will his economic expertise and bold stance against Trump be enough to unite and lead Canada through this defining moment? The upcoming election will be the ultimate test.
