Mark Carney to replace Trudeau as Canadian PM after winning Liberal Party vote

Mark Carney, former governor of the Canadian central bank and Bank of England, will become the next prime minister of Canada after winning the race to lead the ruling Liberal Party.

The 59-year-old won his first election on Sunday, taking 85.9 percent of the vote to beat Chrystia Freeland, former finance minister and his closest rival.

The former banker hopes to use his experience steering the North American country and the United Kingdom away from financial crises especially in the face of an emerging trade war with the United States, one of Canada’s biggest trading partners.

One of the immediate issues on the table for him to tackle is Canada’s relationship with the US.

Both countries are in the middle of a tariff standoff after US President Donald Trump announced a 25 percent tax on all Canadian goods.

The tariffs have the power to push Canada’s fragile economy into a recession, economists have warned.

Justin Trudeau, the outgoing prime minister, imposed retaliatory tariffs, saying his country will be in a trade war with the US “for the foreseeable future”.

Carney addressed the issue in his first speech after winning the Liberal Party vote.

“America is not Canada. And Canada never, ever, will be part of America in any way, shape or form,” Carney said.

“We didn’t ask for this fight. But Canadians are always ready when someone else drops the gloves. So the Americans, they should make no mistake, in trade as in hockey, Canada will win.”

Before the speech, Trudeau, in an emotional speech, told the Liberals he was “damn proud” of his government’s legacy.

A series of gloomy pools, a growing disillusionment among Canadians, and heightened frustration from multiple party members forced the 53-year-old to announce his resignation plans in early January.

Trudeau said he would step down after the Liberals elected their new leader.

Carney is now tasked with leading the party to victory ahead of the federal elections, which must take place no later than October.

The Conservative Party has since built a lead over the Liberal Party of more than 20 percent in national polling average.