Mark Carney was sworn in as Canada’s 24th prime minister on Friday, taking charge of a country grappling with deteriorating relations with the United States since President Donald Trump’s return to power.
Carney, the new leader of the ruling Liberal Party, was overwhelmingly chosen to replace Justin Trudeau. The party is betting his extensive experience leading two central banks through historic crises will help reassure Canadians amid growing fears of a trade war with the U.S.
“We’re going to get right to work,” Carney told reporters before taking the oath of office, noting that the first cabinet meeting would follow immediately after the ceremony.
Diplomatic sources told AFP that Carney’s first foreign trip as prime minister will be to Europe next week.
At 60, Carney is a political newcomer, having never held an elected office. His political acumen will soon be tested, with a federal election expected in the coming weeks. The threat posed by Trump’s policies is likely to dominate the upcoming vote.
Trump has targeted Canada with harsh import tariffs, threatened additional levies, and even suggested that Canada should be annexed by the U.S. Carney, who was sworn in at a ceremony in Ottawa, has called Trump’s stance the most serious challenge Canada has faced in a generation.
“Everything in my life has prepared me for this moment,” Carney said on Sunday after winning the Liberal leadership race.
Before entering politics, Carney worked as an investment banker at Goldman Sachs and served as governor of the Bank of Canada during the 2008-2009 financial crisis. He also led the Bank of England through the turmoil surrounding the Brexit vote. Carney has positioned himself as uniquely equipped to lead Canada through a trade war with the U.S., once Canada’s closest ally but now a country he argues Canada can “no longer trust.”
Canada’s Foreign Minister, Mélanie Joly, who retains her position in Carney’s new cabinet, said that Carney would bring a “new dynamic” to U.S. relations. She also noted that she and U.S. Secretary of State Marco Rubio were working to arrange a call between Trump and Carney “in the next couple of days.”
Carney’s streamlined cabinet, with 23 ministers (down from Trudeau’s 36), retains key figures from the previous government who will continue to manage relations with the U.S., including Finance Minister François-Philippe Champagne, Trade Minister Dominic LeBlanc, and Defense Minister Bill Blair.
A tightening race
Trump’s tariffs and inflammatory rhetoric have profoundly reshaped Canadian politics. At the beginning of the year, the Liberals trailed the Conservatives by 20 points in the polls. However, following Trudeau’s announcement on January 6 that he would step down, the race has tightened significantly, now almost neck and neck.
“Carney is arriving at a pivotal moment. He has become a figure that people trust to stand up to Donald Trump,” said Felix Mathieu, a political science professor at the University of Winnipeg.
In the same week that Trump’s 25% tariffs on all steel and aluminum imports came into effect, Carney visited a steel plant in Hamilton, Ontario, near the U.S. border. Wearing a hard hat and goggles, Carney emphasized his readiness to negotiate a trade deal with Trump but made it clear that any agreement must “respect Canadian sovereignty.”
Distance from Trudeau
Trudeau, who stepped down after nearly a decade in office, posted a farewell message to Canadians on Thursday, expressing pride in having served a country where people “stand up for what’s right.” While his support had waned over the past year, Trudeau’s popularity rebounded somewhat after delivering a series of strong speeches in response to Trump.
Carney, however, has made efforts to distance himself from Trudeau, adopting policies that appeal to centrist voters. He has emphasized that addressing climate change will be a top priority but is scrapping Trudeau’s “divisive” carbon tax on individuals and families, favoring market-driven solutions instead. Additionally, Carney has vowed to halt a tax on capital gains aimed at the wealthiest Canadians, a key policy the Trudeau government had championed to improve Canada’s finances.
“We believe builders should be incentivized for taking risks and rewarded when they succeed,” Carney said on Sunday.
AFP
