Mark Carney to become Canada’s next prime minister

Mark Carney, who previously led the central banks of both Canada and the United Kingdom, will become the next prime minister of Canada after winning the federal Liberal party leadership race with an overwhelming majority.

Carney, 59, secured 85.9% of the vote, defeating former finance minister Chrystia Freeland and other candidates, party officials announced on Sunday.

The incoming prime minister faces immediate challenges as Canada confronts a potential trade war with the United States after president Donald Trump recently announced a 25% tariff on all Canadian goods, with exemptions for the automotive and energy sectors.

“America is not Canada. And Canada never, ever, will be part of America in any way, shape or form,” Carney told supporters after his victory, addressing tensions that have strained relations between the two countries.

“We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves,” he added. “So the Americans, they should make no mistake, in trade as in hockey, Canada will win.”

Carney, who served as Bank of Canada governor from 2008 to 2013 before leading the Bank of England until 2020, will become only the second prime minister in Canadian history without a seat in the House of Commons.

The timing of his assumption of office remains unclear, with discussions expected between Carney and outgoing Prime Minister Justin Trudeau in the coming days.

Before the leadership announcement, Trudeau warned of a “nation-defining moment” for the country.

“Democracy is not a given. Freedom is not a given. Even Canada is not a given,” Trudeau told supporters, reflecting on the gravity of current challenges.

Political analysts note the Liberal party has recently reversed its declining popularity in polls, partly attributed to Canadians’ response to perceived external threats and Carney’s economic credentials.

“My government will keep the tariffs on until the Americans show us respect,” Carney pledged, whilst also criticising Conservative leader Pierre Poilievre as a “career politician” running a divisive campaign.

Carney’s transition from corporate leadership to politics has not been without difficulties. He faced scrutiny over his role at investment firm Brookfield Asset Management when it relocated its headquarters from Toronto to New York, a sensitive issue given current US-Canada tensions.

The incoming prime minister has promised to place his substantial assets, reportedly valued at more than C$30 million (£16 million), into a blind trust immediately upon taking office.

Former Prime Minister Jean Chrétien, speaking at the event, said Trump had united Canadians “like never before” and issued a direct message: “From one old guy to another old guy. Stop this nonsense. Canada will never join the United States.”