Former central banker Mark Carney will be sworn in as Canada’s next prime minister on Friday amidst a tense relationship with the United States. He takes over from Justin Trudeau, who announced his resignation in January after nearly a decade in office and declining support over the past year.
The ruling Liberal Party has overwhelmingly supported Carney as Trudeau’s successor, believing that the technocrat’s experience in managing two central banks during significant crises will reassure a populace facing the threat of a potentially harmful trade war.
The swearing-in ceremony will begin at 11:00 am in Ottawa and will be conducted by the governor general, a representative of King Charles III.
At 59 years old, Carney is a political newcomer who has never held an elected office and has promised a “seamless and quick” transition.
However, he assumes office as US President Donald Trump enacts broad import tariffs and provocatively suggests that Canada could become the 51st state of the United States.
“The Americans should be under no illusion; in trade as in hockey, Canada will prevail,” he said in his recent acceptance speech for the Liberal Party leadership.
“Canada will never be incorporated into America in any form,” he remarked, adopting a bold stance against the United States. “That is simply never going to happen,” he added.
On Wednesday, he expressed his readiness to negotiate a new trade agreement with Trump to avoid further economic conflicts.
A 25 per cent tariff on steel and aluminium imports into the United States was implemented this week, prompting Canada to retaliate with tariffs on US products.
Carney transitioned from an investment banker at Goldman Sachs to serving as governor of the Bank of Canada during the 2008-2009 financial crisis and the Bank of England amidst the uncertainties surrounding the Brexit vote.
He aims to position himself as ideally suited to govern a nation shaken by a trade dispute with its southern neighbour, which Carney claims Canada can “no longer rely on.”
Nevertheless, he may not hold the position for much longer.
Canada is required to conduct elections by October, but a snap election could occur in the coming weeks, with current polls showing the opposition Conservatives slightly ahead.
The challenges presented by Trump are likely to overshadow the campaign.
Trump’s tariff disputes have targeted Canada, Mexico, and China based on claims that they are not doing enough to address fentanyl smuggling or illegal immigration into the United States, even though Canada experiences minimal smuggling along its border.
