Mark Carney, a veteran in economic policymaking and investment with no prior experience in elected office, was sworn in on Friday as Canada’s 24th prime minister. The ruling Liberal Party strongly supported Carney to succeed Justin Trudeau, relying on his experience leading two central banks during major crises. He is taking over the post of Prime Minister during a period of strained relations with the United States, which has faced economic and political tensions since Donald Trump’s election as US President.
Carney does not have a seat in Parliament, and his party holds only a minority of seats in the House of Commons. This is expected to lead to an election by May. Trump has imposed tariffs on Canada and has made threats, including suggesting he might seek to take control of the country. Carney will attempt to negotiate with Trump while preparing for a federal election campaign.
Carney, who turns 60 on Sunday, replaces Justin Trudeau, who served as prime minister for nearly a decade. He was elected Liberal Party leader on Sunday. He previously served as governor of the Bank of Canada during the 2008 financial crisis and later as governor of the Bank of England, where he led through the Brexit transition.
Before working as a central banker, he spent more than a decade at Goldman Sachs. Since leaving the Bank of England, Carney has held senior roles on corporate boards and has been a prominent advocate for green investment. Carney has said he intends to maintain pressure on Trump while seeking a trade deal. My government will keep our tariffs until the Americans show us respect and make credible.
