Mark Carney, former Governor of the Bank of England and ex-head of Canada’s central bank, has been named the new Prime Minister of Canada after winning a decisive victory in the Liberal Party leadership race. Carney secured 85.9% of the vote, emerging as the clear frontrunner amidst growing tensions between Canada and the United States, particularly due to tariffs imposed by President Donald Trump.
In his victory speech, Carney vehemently criticized Trump’s tariffs, which he described as “unjustified” and harmful to Canadian workers, families, and businesses. “Donald Trump has put unjustified tariffs on what we build, on what we sell, and how we make a living. He’s attacking Canadian families, workers, and businesses, and we cannot let him succeed and we won‘t,” Carney stated.
Carney pledged to maintain retaliatory tariffs on the US until “the Americans show us respect,” underscoring the strained relationship between the two countries. He further emphasized the distinct cultural and political differences between the US and Canada, saying, “America is a melting pot. Canada is a mosaic. America is not Canada. Canada will never ever be part of America in any way, shape, or form.”
Carney’s victory follows the announcement by Justin Trudeau, who stepped down after serving as Prime Minister since 2015, following mounting calls from his own party for his resignation amid rising food and housing costs. Trudeau, aged 53, will remain in office until Carney is formally sworn in.
Carney, 59, has significant experience in both banking and leadership, having served as Governor of the Bank of England from 2013 to 2020. He was notably the first non-UK citizen to head the Bank of England since its establishment in 1694. His leadership was credited with guiding Canada through the 2008 financial crisis with resilience, positioning him as a prominent figure in global finance.
As the new leader, Carney now faces the challenge of deciding when to call a general election, which must be held on or before 20 October.
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