The Liberal Party of Canada has appointed banking executive Mark Carney as its new leader, succeeding Prime Minister Justin Trudeau. Carney is set to manage trade and tariff negotiations with President Donald Trump until at least the next general election in Canada, which is anticipated to occur later this year.
Newsweek reached out to the White House on Sunday evening via email for a response.
Why It Matters
Trudeau announced his resignation amid unrest within his party regarding his management of the national budget.
He explicitly mentioned “internal conflicts” as the reason for his inability to lead the party into the upcoming general election, expected around October. However, the new prime minister has the option to call an election sooner if he wishes.
Simultaneously, Trump has consistently targeted Canada with tariffs since taking office in January, including a potential 250% tariff on American dairy products crossing the northern border, which could commence as early as this week.
Trump has also frequently expressed his desire to incorporate Canada into the United States, a notion that has been overwhelmingly dismissed by both Liberals and Conservatives. Conservative Party leader Pierre Poilievre firmly stated: “We will never be the 51st state. We are prepared to bear any burden and pay any price to safeguard our country’s sovereignty and independence.”
What To Know
Carney secured the party leadership on March 9 with a decisive victory, garnering 131,674 votes from party members, representing 85.9 percent of the total. Former Deputy Prime Minister Chrystia Freeland received 11,134 votes, placing second with 8 percent of the vote.
He is expected to take over from Trudeau after the party arranges a transition process. The duration of this process and Carney’s tenure as prime minister remains uncertain.
In his victory speech, Carney targeted both Trump and Poilievre, accusing them of undermining the nation’s economy for their own ends. He challenged them both to attempt to do so.
“There’s someone seeking to weaken our economy: Donald Trump. As the prime minister has stated, he has imposed unjustified tariffs on what we produce, what we sell, and how we earn our livelihoods,” Carney stated.
“He’s attacking Canadian families, workers, and businesses, and we cannot allow him to prevail, and we won’t. I am proud,” Carney continued. “I am proud of how Canadians are voicing their concerns and taking action. I appreciate our provinces stepping up to the challenge, because when united, we are Canada strong,” adding that “my government will maintain our tariffs until the Americans show us the respect we deserve.”
Regarding Poilievre, he remarked that Poilievre is “the kind of lifelong politician, and I’ve seen many like him worldwide, a lifelong politician who idolizes the free market despite having never made a payroll himself.”
“In light of President Trump’s threats, Pierre Poilievre still refuses to obtain his security clearance at a time when our national security has never been more at risk,” Carney stated. “At a time of great economic uncertainty, he would undermine the Bank of Canada.”
“These are indeed dark days, dark days caused by a country we can no longer trust,” Carney concluded his speech. “We are moving past the shock, but let’s not forget the lessons. We must take care of ourselves and look out for one another. We must unite in the difficult days ahead.”
Andrej Ivanov/AFP via Getty Images
Who Is Mark Carney?
Carney is an economist who held the position of governor of the Bank of Canada from 2008 to 2013 and served as the governor of the Bank of England from 2013 to 2020.
He has positioned himself as the leader best suited to confront Trump amid the escalating tariff and trade war, and the party seems to concur. He defeated Freeland, who resigned as finance minister in January after a fallout with Trudeau regarding his approach to Trump’s tariffs.
Polls suggest that with Carney in leadership, the Liberal Party may contest ferociously against the opposing Conservative Party, which had previously seemed well-positioned to gain control in the upcoming General Election.
One of Carney’s central promises is to “make Canada the strongest economy in the G7,” which may reflect the intent of both Carney and the Liberal Party to adopt a stance against the U.S. to address national concerns regarding Trump.
What Has Mark Carney Said About Donald Trump?
Carney has consistently expressed his views about Trump through posts on X, formerly Twitter, outlining his strategies for engaging with the president once he took office.
“President Trump thinks we’re pushovers,” Carney wrote on February 1. “He doesn’t understand Canadians. We will defend our nation. We will stand united. We will grow stronger. Together.”
He also criticized Trump’s tendency to use social media for policy announcements, tweeting on February 22: “Canadians don’t want to check social media every morning to see what President Trump might do to our economy. This is Canada – we will dictate our future.”
In a lengthy statement on February 10, Carney cautioned that Trump intended for Canada to “lose our cool” and urged the country to “remain united with the appropriate response.”
“In the short term, Canada needs to manage foreign trade threats with dollar-for-dollar tariffs and support for our critical steel and aluminum workers,” he wrote. “Moving forward, we will need a coordinated strategy to enhance investment, improve our companies’ competitiveness, and diversify our trading partners.”
In another post just a day later, Carney stated: “President Trump appears to believe he can override the laws of the United States, international trade, and economics. The American Congress and U.S. courts will independently determine how to rectify these violations of Presidential powers.”
He added: “President Trump’s actions will negatively impact millions of American workers and consumers. After pledging to reduce inflation, his actions will cause it, as well as interest rates, to rise. In Canada, we comprehend the laws of economics. That’s why we’ll take charge in building the strongest economy in the G7.”
What Happens Next?
Carney will assume leadership from Trudeau this week and begin negotiations with Trump and the U.S., along with discussions with other international allies.
Update, 3/9/25 at 7:30 p.m. ET: This article has been amended to include remarks from Mark Carney’s victory speech.
