Mark Carney to be sworn in as Canada’s new prime minister

Mark Carney is set to be sworn in as Canada’s 24th prime minister on Friday, following his decisive victory in the Liberal Party leadership race.

Carney will replace Justin Trudeau, bringing an end to the latter’s nine-year tenure as head of government.

Read more: Former central banker favored to replace Trudeau as Canada PM

The swearing-in ceremony, presided over by Governor General Mary Simon, will also include the induction of Carney’s cabinet ministers. His appointment is pivotal for Canada as the country faces escalating trade tensions with US President Donald Trump.

- From central banker to Prime Minister -

Carney’s background as the former governor of both the Bank of Canada and the Bank of England has earned him a reputation as a steady hand in times of economic turbulence. That experience is expected to play a crucial role as he navigates the ongoing trade war with Washington.

Since returning to the White House, Trump has imposed 25 percent tariffs on Canadian goods not covered by the Canada-United States-Mexico Agreement (CUSMA), prompting retaliatory measures from Ottawa. Carney has vowed to keep Canada’s counter-tariffs in place for as long as the US maintains its restrictions.

“We can’t let him succeed,” Carney declared in his victory speech on Sunday. He stressed that Canada would continue to impose tariffs on US imports “until the Americans show us respect.”

Read more: "We won’t let Trump win", says Canada’s new prime minister

“I know these are dark days,” he added. “Dark days brought on by a country we can no longer trust. We’re getting over the shock, but let us never forget the lessons: we have to look after ourselves and we have to look out for each other. We need to pull together in the tough days ahead.”

- Potential early election looms -

Carney’s leadership marks a new chapter for the Liberal Party, but his tenure may be short-lived if he opts to call an early federal election before the scheduled date in October.

With trade issues at the forefront, Carney is expected to position himself as the candidate best equipped to challenge Trump’s policies.

His main opponent will be Conservative leader Pierre Poilievre, whose combative political style has drawn comparisons to Trump himself. While Conservatives once held a commanding 20-point lead in election polls, recent surveys suggest the race has tightened, as Trump’s tariff policies have become a dominant issue.

Beyond the Conservatives, Carney’s Liberals will also face competition from the Bloc Québécois, which holds 33 seats in the House of Commons, and the New Democratic Party, with 24 seats.