Canadian economist Mark Carney takes the reins of the Liberal Party of Canada and it is planned that in the next few hours he will replace the now Prime Minister Justin Trudeau and also assume control of the country at a key moment. With an impeccable trajectory in the Bank of Canada and the Bank of England, its landing in politics occurs at a critical moment: the economic crisis derived from the commercial war that Donald Trump has opened with the rise of tariffs and, also, stop the claims of the white house of the White House to convert the neighboring country into the state number 51 of the United States. Without having occupied a seat in the Canadian Parliament, Carney assumes the leadership of the liberals with one objective: stabilize the government and stop the fall in the surveys.
The resignation in December of the Vice Prime Minister and also Canadian finance minister, Chrystia Freeland, as a consequence of the confrontation with Prime Minister Justin Trudeau for the country’s economic management, unleashed an internal crisis in the liberal party that this Sunday has completed with the election of Mark Carney as leader of the liberal formation.
With 85.9 % of the votes of the militants, Carney has devastated the primary of the Liberal Party against an opposition whose results have been testimonial. Its main rival, Chrystia Freeland, has barely reached 8 % of the ballots, while Karina Gould and Frank Baylis, third and fourth place respectively, have obtained 3.2 % and 3 % support.
With this victory, Carney also exceeds the result of his predecessor in office, Justin Trudeau, who in 2013 got his victory in the primary, although with just over 80% of the votes. Tonight, he has spoken for the last time as the leader of the liberals defending the work of his training to “make this country even better” and, now, in “a decisive moment for the nation”, as he has recognized, he has welcomed his successor in office: “His country needs them now more than ever,” he said before the followers of the Libreral Party to celebrate the electoral result.
Direct confrontation with Trump
Since his first speech, Carney has made it clear that his government will not yield to the pressure of the Trump administration. “My government will put into action a plan to build a stronger economy and new commercial relations with reliable partners,” he said after his victory. In the center of its strategy is the imposition of tariffs on US imports in response to Washington’s protectionist measures.
“We do not ask for this fight, but the Canadians are always ready when someone takes off their gloves,” he said, resorting to a metaphor of ice hockey, national sport. “In commerce, as in hockey, Canada will win.”
Carney has insisted that Trump’s policies directly threaten Canadian sovereignty. “Trump thinks he can weaken us with his plan to divide and conquer,” he said in his speech. “The division will not win a commercial war. The division will not pay the rent or the mortgage. The division will not lower the price of food. The division will not make Canada strong.”
The new prime minister has also made it clear that his administration will take concrete measures to counteract economic threats. “We cannot change Donald Trump, but we can change our strategy in front of him,” he said. “The new threats demand new ideas and a new plan.”
Carney has stressed that his government will redouble efforts to strengthen the national economy and diversify business relations. “With positive leadership, we will build a stronger economy, we will create new commercial relations with reliable partners and ensure our borders,” he said. His message is clear: Ottawa will not allow Trump to weaken the Canadian economy without a forceful response.
An expert banker in crisis management
Carney is no stranger to the scenarios of uncertainty. His management at the Canada Bank during the 2008 financial crisis prevented the country from suffering the worst effects of global collapse. His role in the Bank of England was equally decisive in the stabilization of the United Kingdom after the Brexit referendum and during the first phase of the Covid-19 pandemic.
Born 59 years ago in Fort Smith, a remote town in northwest Canada, Carney was formed in Harvard and Oxford before making a career at Goldman Sachs. His technical profile and his pragmatic speech have earned him the respect of the markets, but now he faces a different challenge: connect with voters and consolidate his leadership in a party in crisis.
His arrival to power does not resolve the fragility of the liberal government. Without a solid parliamentary base and with the opposition ready to tear it down, Carney has few options: to call elections in April or risk a motion of censure.
Beyond the pulse with Trump, his greatest challenge will be to convince Canadians that it is more than a technocrat in times of crisis. In an increasingly polarized political scenario, the former banker must demonstrate that he can be a political leader with a vision of the future and not just an emergency manager. For now, his speech is firm: “Canada will never be part of the United States, in any way.”
