“Trudeau Out? Ex-Bank Chief Carney to Lead Canada’s Liberals!”
Mark Carney, the former central banker who guided economies through crises on two continents, has been chosen by Canada’s Liberals to replace Prime Minister Justin Trudeau. Carney, 59, secured a decisive victory on the first ballot with nearly 86% of the vote, surpassing rivals including former Deputy PM Chrystia Freeland.
Carney is set to officially take over as prime minister within a week. With a federal election due by October—but possibly sooner—he faces immediate challenges, none greater than the economic threats posed by U.S. President Donald Trump. Trump has hit Canada with steep tariffs and threatened economic coercion, fueling tensions that many fear could permanently damage U.S.-Canada relations. After imposing 25% tariffs on Canadian goods, Trump briefly paused them on select products—only to threaten more. Trudeau warned that a prolonged trade war was likely.
Carney positioned himself as a steady, crisis-tested leader ready to counter Trump’s economic warfare. He cited his leadership during the 2008 financial crisis as Bank of Canada governor and his role navigating Brexit as Bank of England chief. In his victory speech in Ottawa, Carney rallied Canadians:
“America is not Canada, and Canada never, ever will be part of America in any way,” he declared. “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.”
Before Trudeau’s January resignation, the Liberals trailed the Conservatives by 20 points, facing voter frustration over inflation and economic stagnation. But with Carney at the helm—and Trump’s aggressive stance—the race has tightened significantly.
Mark Carney Takes Helm as Canada’s Next PM, Faces Fierce Battle Against Poilievre and Trump
Mark Carney, an acclaimed economist with a global pedigree, is stepping into the political arena as Canada’s new Liberal leader and soon-to-be prime minister. But while he’s a seasoned crisis manager, Carney remains untested as a politician—his shaky French could hurt him in vote-rich Quebec, and his ability to face off against Conservative leader Pierre Poilievre, a ruthless political veteran, is uncertain.
Poilievre wasted no time attacking Carney, calling him “Trudeau’s economic advisor” and accusing the Liberals of trying to “trick Canadians” into a fourth term. Political scientist Lisa Young noted that, as a newcomer, Carney has benefitted from a “savior” image—but warned that his real test is yet to come.
A Leadership Race Overshadowed by Trump
Unlike typical political battles, the Liberal leadership race was a relatively civil affair, dominated by one looming figure: Donald Trump. Carney’s campaign focused on countering Trump’s economic warfare, vowing to impose tit-for-tat tariffs and reduce Canada’s reliance on U.S. trade.
“My government will keep tariffs in place until the Americans show us respect,” Carney declared, promising to use the revenue to support Canadian workers.
Carney has also distanced himself from some of Trudeau’s policies—pledging to scrap the consumer carbon tax and a planned capital gains tax hike while committing to balancing parts of the budget within three years. His stance on defense spending, promising to meet NATO’s 2% GDP target by 2030, could further strain Canada’s relationship with Trump.
Carney vs. Freeland: A Rivalry Years in the Making
The leadership race was widely seen as a showdown between Carney and Chrystia Freeland, the former deputy prime minister. The two are longtime allies—Carney is even the godfather of one of Freeland’s children. But their split became public when Freeland resigned last year, accusing Trudeau of “costly political gimmicks” amid Trump’s economic threats.
Freeland, who led trade negotiations against Trump during his first term, wore his insults as a badge of honor. She was a top contender for leadership, but Carney’s deep financial expertise, political backing, and fundraising prowess secured his victory.
At Carney’s victory rally, the crowd chanted “Elbows up!”—a hockey reference signaling Canada’s readiness to fight back against Trump. Former Liberal PM Jean Chrétien even joked that Trump should receive the Order of Canada for uniting the country against him.
From ‘Global Savior’ to Political Newcomer
Carney’s political ambitions have been the subject of speculation for years. Born in the Northwest Territories and raised in Edmonton, he studied at Harvard and Oxford before rising to prominence in global finance. As Bank of Canada governor during the 2008 financial crisis, he was credited with stabilizing the economy, earning him the nickname “the Canadian hired to save the world.”
In 2013, he became the first foreigner to lead the Bank of England, warning of Brexit’s economic fallout and working to cushion the blow. He later served as Trudeau’s economic advisor and was offered the role of finance minister before Freeland’s resignation reshaped the government.
Despite his impressive résumé, Carney lacks a seat in Parliament, limiting his ability to engage in daily political battles. Conservatives have already branded him a “sneaky globalist,” but pollster Nik Nanos notes that Carney’s biggest challenge isn’t just his opponents—it’s proving to Canadians that he’s more than just an elite banker.
With a federal election looming and Poilievre ready to go for the jugular, Carney’s real fight is just beginning.