Ex-central banker Mark Carney was sworn in as Canada’s prime minister on Friday and immediately expressed his willingness to work with US President Donald Trump, despite concerns over potential tariffs that could harm the Canadian economy.
Carney succeeds Justin Trudeau, whose relationship with Trump was often tense and adversarial. At 59, Carney made it clear that his approach would differ.
“We respect President Trump – he’s made some significant issues a priority, and we understand his agenda,” Carney told reporters after the ceremony. He noted his previous work with Trump at international meetings and highlighted their shared experience. “In many ways, my experience overlaps with the President’s – we both work for the interests of our countries. But he knows, and I know from long experience, that we can find mutually beneficial solutions.”
Carney also dismissed the Trump administration’s talk of annexing Canada as “crazy” and emphasized that he had no immediate plans to speak with the president.
He reshaped his 24-member cabinet, focusing on strengthening relations with Washington, and reduced nearly half of the ministerial positions inherited from Trudeau. Finance Minister Dominic LeBlanc moved to the international trade portfolio, with Innovation Minister Francois-Philippe Champagne replacing him in the finance role. Foreign Minister Melanie Joly retained her position.
With the next election due by October 20, Carney will face the opposition Conservatives, who have long campaigned against Trudeau’s consumer carbon tax. Carney, who promised to eliminate the tax, signed an order scrapping it during his first cabinet meeting, calling it a measure that would benefit struggling Canadians.
Carney’s rise to prime minister marks a significant milestone, as he is the first to hold the office without extensive political experience. He plans to visit London and Paris next week, as Canada looks to strengthen its ties with Europe amid deteriorating relations with the United States.
Carney emerged victorious in the Liberal Party leadership race, defeating his rivals with a landslide. He replaces Trudeau, who served more than nine years as prime minister. Former finance minister Chrystia Freeland, whose resignation last December triggered a crisis that ultimately led to Trudeau’s ouster, becomes the new transport minister.
A former head of both the Bank of Canada and the Bank of England, Carney argued that his outsider status and crisis management experience made him the best candidate to deal with Trump, who has repeatedly threatened to annex Canada. “We will never, ever, in any way, shape, or form, be part of the United States,” Carney said.
Carney’s cabinet may not remain in power for long, as Liberal insiders expect him to call a snap election within two weeks. If he chooses not to, opposition parties have indicated they will unite to bring down the minority government in a confidence vote by the end of March. Once the election is called, Carney will be limited in what he can do politically, as convention dictates that major decisions cannot be made during a campaign.
Polls suggest the upcoming election will be closely contested between the Liberals and Conservatives, with neither party expected to secure a majority. Recently, the Conservatives have had a double-digit lead in opinion polls, largely due to dissatisfaction with rising living costs and the housing crisis.
“100% of Carney’s ministers were in Trudeau’s caucus – they helped hike carbon taxes and double the debt, housing costs, and food bank lines,” said Conservative leader Pierre Poilievre in a post on X. “A Liberal is a Liberal is a Liberal.”
