Mark Carney, a former governor of the Bank of England and the Bank of Canada, was sworn in as Canada’s 24th prime minister on Friday in Ottawa. He takes office at a time of mounting tensions with the United States, including a trade war and controversial annexation threats from US President Donald Trump.
Carney, 59, replaces Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. His appointment comes amid growing speculation that he will call a general election in the coming weeks.
The Liberal Party, which had been trailing in polls, has seen a surge in support following Trump’s aggressive economic policies. The US president has imposed 25% tariffs on Canadian steel and aluminum and is threatening further sweeping tariffs on all Canadian exports starting April 2. Trump has also made inflammatory remarks about incorporating Canada as the 51st US state, dismissing the US-Canada border as a “fictional line.”
His statements have sparked outrage among Canadians, with nationalistic sentiment rising. Crowds have booed the American national anthem at sports events, consumers are boycotting US products, and some travelers are canceling trips to the US.
Carney, a former Goldman Sachs executive with no prior political experience, is expected to leverage his financial expertise to navigate the crisis. As head of the Bank of Canada during the 2008 financial collapse and later as the first non-British governor of the Bank of England, he played a key role in stabilizing economies during times of turmoil.
He has signaled a willingness to engage with Trump but insists that any discussions must respect Canada’s sovereignty. “If the US president is prepared for a respectful dialogue, we can explore a common approach to trade,” Carney said.
Former Canadian Prime Minister Jean Chrétien expressed confidence in Carney’s capabilities but warned of the challenges ahead. “He’s respected internationally, but there’s no magic solution,” Chrétien said. “We’ve never dealt with a US president who changes his mind every five minutes—it creates problems everywhere, not just for Canada.”
With tensions escalating and an election on the horizon, Carney’s leadership will be tested as he seeks to unite Canada against external pressures and navigate one of the most volatile periods in the country’s recent history.
