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Former central banker Mark Carney is set to become Canada’s next prime minister after succeeding Justin Trudeau as leader of the governing Liberal Party.
ADVERTISEMENTMark Carney will become Canada’s next prime minister after Canada’s ruling Liberal Party elected him as its leader on Sunday to replace Justin Trudeau.Trudeau had resigned as prime minister on 6 January as domestic problems mounted, plummeting his popularity in the country. He had vowed to stay in power until his party elects a new leader to replace him.The Canadian leader had come under pressure from his own party who lost their trust in him, resulting in dismal polls. In the months leading up to Trudeau’s resignation, polls projected his main rival, Pierre Poilievre of the Conservative Party leading by a significant double-digit margin.Carney won the Liberal Party leadership vote in a landslide, securing almost 86% of the vote, and in his first speech as leader, was quick to take a defiant stance against threats from US President Donald Trump.“There is someone who is trying to weaken our economy,” Carney warned. “Donald Trump. As we know, 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 said Canada will keep its retaliatory tariffs in place until “the Americans show us respect.”“We didn’t ask for this fight, but Canadians are always ready when someone else drops the gloves,” added Carney. “They [the US] should make no mistake, in trade, as in hockey, Canada will win.”Carney’s previous roles saw him navigate financial crises when he was the head of the Bank of Canada. In 2013, he was appointed as governor of the Bank of England, under then British Prime Minister Borish Johnson, becoming the first noncitizen to run the English central bank since its founding in 1694.His appointment won bipartisan praise in the United Kingdom as Carney was globally renowned in his field. Under his leadership, Canada was among the first major countries to recover from the detrimental impacts of the 2008 financial crisis.Canada’s opposition Conservatives hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose substantially domestically, and immigration surged.Trump’s trade war and his talk of making Canada the 51st US state have infuriated Canadians. Many are cancelling trips south of the border and are avoiding buying American goods where and when possible.The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election. Their showing have been improving steadily in opinion polls.“The Americans want our resources, our water, our land, our country. Think about it. If they succeed they would destroy our way of life,” Carney said. “In America health care is big business. In Canada it is a right.”Carney said America is “a melting pot. Canada is mosaic,” he said. “America is not Canada. And Canada will never, ever will be a part of America in any way, shape or form.”After decades of bilateral stability, the vote on Canada’s next leader is now expected to focus on who is best equipped to deal with the threat posed by Trump.ADVERTISEMENT“These are dark days, dark days brought on by a country we can no longer trust,” Carney said. “We are getting over the shock but let us never forget the lessons. We have to look after ourselves and we have to look out for each other. We need to pull together in the tough days ahead.”Trump has postponed 25% tariffs on many goods from Canada and Mexico for a month, amid widespread fears of a broader trade war. But he has threatened other tariffs on steel, aluminium, dairy and other products.Carney is a highly educated economist with Wall Street experience who has long been interested in entering politics and becoming prime minister, but coming from a business and finance background, he lacks political experience.Carney is a former Goldman Sachs executive. He worked for 13 years in London, Tokyo, New York and Toronto, before being appointed deputy governor of the Bank of Canada in 2003.ADVERTISEMENTIn 2020, he began serving as the United Nations’ special envoy for climate action and finance, under UN Secretary General Antonio Guterres.Carney was up against more well-known names in the race for the Liberal Party leadership. He faced off with Deputy Prime Minister – and ex-Finance Minister – Chrystia Freeland. She resigned from government in December after Trudeau said he no longer wanted her as finance minister, instead electing to retain her services as deputy prime minister, and the point person for US-Canada relations.The soon-to-be Canadian leader outperformed Freeland, who only managed to win 8% of the votes, as Carney picked up one endorsement after another from Cabinet ministers and members of Parliament since declaring his candidacy in January.Carney, who will be sworn in as prime minister in the next few days, may not keep the job for long.ADVERTISEMENTHe is expected to trigger a snap election shortly. Either he will call one, or the opposition parties in Parliament could force one with a no-confidence vote later this month. The Liberal Party are mandated to hold a general election on or before 20 October.Trudeau urged Liberal supporters to get involved and support the new leader. “This is a nation-defining moment. Democracy is not a given. Freedoms is not a given. Even Canada is not a given.”

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