Mark Carney to succeed Trudeau as Canada’s PM amid trade tensions with US

Canada’s ruling Liberal Party has elected former central bank chief Mark Carney as its new leader, positioning him to take over as prime minister from Justin Trudeau.

The transition follows Trudeau’s political decline amid an escalating trade conflict with Canada’s closest ally, initiated by President Trump, Caliber.Az reports per US media.

The exact timeline for Carney’s assumption of office remains uncertain, as the transition will be coordinated between him and Trudeau.

Carney secured a commanding victory in the leadership contest, winning nearly 86% of the more than 151,000 votes cast. His nearest competitor received 11,144 votes.

The incoming leader faces a challenging political landscape, with the Liberal Party’s popularity having declined significantly in recent years. Opposition parties are eager to force an early election, and Carney’s government could be ousted by Parliament at any point between March 24, when Parliament reconvenes, and October 20, the latest possible date for a national vote.

Trudeau announced in January that he would step down as both party leader and prime minister following mounting internal pressure and plummeting poll numbers for the Liberals. His departure paved the way for Carney’s decisive leadership victory on March 9. Many Canadians now look to him to swiftly assemble a new cabinet and apply his extensive financial expertise as the country grapples with the impact of Trump’s trade policies.

Who is Mark Carney?

Born in Fort Smith, Northwest Territories, Carney was raised in Edmonton before studying economics at Harvard University in the United States. He later pursued further education in the United Kingdom, earning a master’s degree and, in 1995, a doctorate in economics from the University of Oxford.

Carney was appointed Governor of the Bank of Canada in 2008 during the global financial crisis, a role in which he played a crucial part in steering the country’s economy through the turmoil.

By Aghakazim Guliyev