The former governor of the Bank of Canada and the Bank of England , Mark Carney, has been appointed Canada’s Prime Minister following his decisive victory in the Liberal Party leadership race.
Carney secured 86% of the ballots, making him the first political outsider with no prior elected experience to take the role.
The 59-year-old economist is set to succeed Justin Trudeau, who announced his decision to resign earlier this year.
Carney and Trudeau are expected to discuss the transition of power in the coming days to finalize the outgoing prime minister’s departure.
In his victory speech, Carney addressed rising tensions with the United States, where President Trump has threatened to impose additional tariffs that could severely impact Canada’s export-dependent economy.
Trump has also made controversial remarks suggesting Canada could become the 51st US state.
Carney fired back at Trump during his address, declaring, “America is not Canada. And Canada never, ever, will be part of America in any way, shape or form.”
He emphasised that while Canada did not seek conflict, the nation is prepared to defend itself if challenged.
“The Americans want our resources, our water, our land, our country,” Carney warned. “If they succeed, they will destroy our way of life.”
Carney’s campaign focused heavily on his economic experience, positioning him as the best candidate to counter Trump’s aggressive tariff agenda.
During the leadership contest, Carney defeated prominent figures such as former Finance Minister Chrystia Freeland, former House Leader Karina Gould, and former Member of Parliament Frank Baylis. Nearly 152,000 party members participated in the vote.
Despite his lack of electoral background, Carney has worked closely with the Canadian government for over a decade.
Most recently, he served as Trudeau’s appointed chair of the Liberal Party of Canada’s Task Force on Economic Growth.
Carney’s background includes a notable tenure as the head of the Bank of Canada before becoming the first non-Brit to lead the Bank of England since its establishment in 1694.
On the campaign trail, Carney advocated for retaliatory tariffs against the US, suggesting a dollar-for-dollar response to counter Trump’s economic measures.
He claimed that Canada’s economic progress under Trudeau had been insufficient and pledged stronger action.
Meanwhile, in his farewell speech, an emotional Trudeau acknowledged the strained relations between Canada and the United States since Trump imposed 25% tariffs on Canadian goods.
“Don’t get me wrong, I’m damn proud of what we’ve done over these past 10 years,” Trudeau said, reflecting on his tenure. “But tonight is about our future as a party, as a country.”
