By Promit Mukherjee and Ismail Shakil, Reuters
Mark Carney Photo: AFP / FILE
- Justin Trudeau stepping down after more than nine years in power
- Former central banker Mark Carney will be next Prime Minister
Former central banker Mark Carney won the race to become leader of Canada's ruling Liberal Party and will succeed Justin Trudeau as prime minister, official results showed on Sunday.
Carney will take over at a tumultuous time in Canada, which is in the midst of a trade war with longtime ally the United States and must hold a general election soon.
Carney, 59, beat former Finance Minister Chrystia Freeland who came in second place in a contest in which just over 150,000 party members voted.
Trudeau announced in January that he would step down after more than nine years in power as his approval rating plummeted, forcing the ruling Liberal Party to run a quick contest to replace him.
Mark Carney, former governor of the bank of Canada, won the race to become leader of Canada's ruling Liberal Party and will succeed Justin Trudeau as prime minister. Photo: AFP / Andrej Ivanov
Carney, a political novice, argued that he was best placed to revive the party and to oversee trade negotiations with U.S. President Donald Trump, who is threatening additional tariffs that could cripple Canada's export-dependent economy.
Carney was the front-runner, with the most endorsements from party members and the most money raised among the four Liberal candidates.
Carney's win marks the first time an outsider with no real political background has become Canadian prime minister. He has said his experience as the first person to serve as the governor of two G7 central banks - Canada and England - meant he was the best candidate to deal with Trump.
During the campaign, Carney said he supported dollar-for-dollar retaliatory tariffs against the United States and a coordinated strategy to boost investment. He has repeatedly complained that Canada's growth under Trudeau was not good enough.
The prospect of a fresh start for the Liberal Party under Carney, combined with Trump's tariffs and his repeated taunts to annex Canada as the 51st U.S. state, led to a remarkable revival of Liberal fortunes.
- Reuters
