Canada’s governing Liberals on Sunday elected former central bank governor Mark Carney as the replacement for Prime Minister Justin Trudeau. His appointment comes amidst the country’s rift with the United States as tariff threats from Donald Trump are set to hit its economy from April 2.
Carney has steered through financial crises as the head of the Bank of Canada and later, in 2013, became the first noncitizen to lead the Bank of England since its establishment in 1694. His appointment received bipartisan acclaim in the UK, given Canada’s swift recovery from the 2008 financial crisis compared to many other nations.
During a campaign rally earlier this week, Carney dubbed the tariff war as “most serious crisis in our lifetime”.
“Trump is attacking what we build. He is attacking what we sell. He is attacking how we earn our living,” he had said adding, “We are facing the most serious crisis in our lifetime.”
Canada has already imposed reciprocal tariffs in response to Trump’s threat and it has also filed a complaint with the World Trade Organisation.
He has no experience in Parliament and has never held an elected public office.
A rising wave of Canadian nationalism has strengthened the Liberal Party’s prospects in the upcoming parliamentary election, which is anticipated in the coming days or weeks. Opinion polls reflect a steady uptick in Liberal support. Amid shifting bilateral dynamics, the election is now poised to center on which leader is best suited to navigate relations with the United States.
Carney is likely to prompt an election soon after taking charge. This could happen either through him calling for one or if opposition parties in Parliament push for a no-confidence vote later this month.