A former central banker, Mark Carney, has been elected as the new leader of Canada’s Liberal Party and will become the country’s prime minister. Carney’s victory comes at a crucial moment for the country as it faces challenges from President Trump’s policies and the potential to lose its economic sovereignty.
Carney was appointed governor of the Bank of Canada during the financial crisis of 2008 and governor of the Bank of England during Brexit. He was also successful in the private sector, amassing a significant personal wealth. Carney dominated the leadership race for the Liberal Party, receiving a decisive win. However, since the party does not have a majority in Parliament, Carney will have to call a general election in which they will face the Conservative Party. Pierre Poilievre, the leader of the Conservative Party, will be Carney’s opponent in the election.
Carney’s taking office marks the end of Justin Trudeau’s tenure as prime minister. Trudeau’s popularity had decreased due to criticisms over the cost of living, housing costs, and issues with the healthcare system.
Trump’s threats continue to loom over Canada. The tariffs that Trump has placed on Canadian goods have already taken a toll on the country’s economy. Trudeau addressed Trump’s possible annexation of Canada in an emotional farewell speech, calling it a “nation-defining moment.” Carney also addressed both Trump and Poilievre as his main adversaries as he prepares to take office.
In his speech, Carney stated that Trump’s plan to “divide and conquer” would only weaken Canada, while Poilievre’s plan would leave the country ready to be conquered by supporting Trump. Carney also acknowledged the challenges ahead and said, “I know that these are dark days, dark days brought on by a country we can no longer trust.”
Carney’s leadership campaign focused on reorienting Canada’s economy, which has been weakened by inflation and low productivity. He also committed to eliminating Trudeau’s carbon tax and
Source: https://www.nytimes.com/2025/03/10/world/canada/canada-election-takeaways.html
