Former central banker Mark Carney has won the leadership of Canada’s ruling Liberal Party and will succeed Justin Trudeau as prime minister, according to official results released Sunday.
Carney, 59, secured a commanding victory with 86% of the vote, defeating former Finance Minister Chrystia Freeland in a contest that saw nearly 152,000 party members cast ballots. His leadership begins at a turbulent time for Canada, which is locked in a trade dispute with the United States under President Donald Trump and faces an impending general election.
“There’s someone trying to weaken our economy,” Carney said, referring to Trump, drawing loud boos from the party gathering. “He’s attacking Canadian workers, families, and businesses. We can’t let him succeed.”
Trudeau announced in January that he would step down after more than nine years in office, citing plummeting approval ratings. “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.
A political newcomer, Carney argued that his experience leading both the Bank of Canada and the Bank of England made him the best candidate to revive the party and navigate trade negotiations with Trump, who has threatened additional tariffs that could hurt Canada’s export-driven economy.
In response to U.S. tariffs, Trudeau imposed 30 billion Canadian dollars ($22 billion) in retaliatory duties. Carney vowed to maintain the tariffs until the U.S. “shows us respect.”
Carney’s victory marks the first time a political outsider with no elected experience has become Canada’s prime minister. His rise has fueled optimism for the Liberal Party, especially as tensions with the U.S. escalate and Trump’s rhetoric—including repeated jabs about annexing Canada as the 51st U.S. state—has galvanized national support.
“This won’t be business as usual,” Carney said. “We will have to do things we haven’t imagined before, at speeds we didn’t think possible.”