Updated by Anastasios Gordon Sekandi at 02:41 EAT Monday 10 March 2025

In a defining moment for Canada’s future, the Liberal Party on Sunday chose Mark Carney — a seasoned central banker with global crisis-management credentials but no electoral experience — to replace Justin Trudeau as leader and prime minister, setting up a dramatic clash with President Trump.

Carney, 59, who guided the Bank of Canada through the 2008 financial crash and the Bank of England through Brexit, won an overwhelming 85.9 percent of party votes, defeating his friend and former finance minister Chrystia Freeland. More than 150,000 Liberals participated in the leadership contest, party officials said.

“America is not Canada. And Canada never, ever, will be part of America in any way, shape or form,” Carney declared in his victory speech, directly addressing Trump’s repeated threats to absorb Canada as the 51st state. “We didn’t ask for this fight, but Canadians are always ready when someone else drops the gloves. In trade, as in hockey, Canada will win.”

Carney is expected to be sworn in early this week, officially closing the Trudeau era. However, because he doesn’t hold a seat in Parliament, he’s likely to call a snap election to solidify his mandate, facing off against Conservative leader Pierre Poilievre.

The stakes are immense. Trump’s on-again, off-again pursuit of tariffs against Canadian goods has rattled the economy, while his inflammatory comments about annexation have sparked national anxiety. Trudeau captured that mood in a farewell address to Liberals in Ottawa:

“This is a nation-defining moment. Democracy is not a given. Freedom is not a given,” Trudeau said. “Even Canada is not a given.”

Carney vowed to maintain retaliatory tariffs on U.S. goods. “My government will keep our tariffs on until the Americans show us respect,” he said.

Polls suggest Carney’s reputation as a crisis manager gives him an edge over Poilievre, a lifelong politician whose ideological alignment with Trump has hurt his standing. Although Conservatives held a 20-point lead before Trudeau’s resignation, that gap has narrowed as Trump escalates pressure on Canada.

But Carney’s path isn’t without obstacles. He must distance himself from Trudeau, whose tenure ended under the weight of an affordability crisis, a strained health-care system, and public frustration over record migration. Meanwhile, Conservatives have attacked Carney’s wealth and painted him as an elitist out of touch with ordinary Canadians.

Carney’s global advocacy for green finance could also clash with Canada’s vast natural resource wealth, including oil, gas, and minerals critical for clean energy transitions. Balancing environmental goals with economic needs will be a central test of his leadership.

Yet, for many Canadians, the immediate question is who can best stand up to Trump. And for now, the Liberals are betting that Carney — the unelected technocrat turned reluctant politician — is the fighter they need.

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