Bank of Canada and Bank of England Governor Mark Kearney says members of the Canadian Liberal Party will gather.
Blair Gable | Reuters
Former central banker Mark Carney wins the race to become the leader of Canada's ruling liberal party and replaces Justin Trudeau as prime minister, official results showed on Sunday.
Carney will take over at a time of upheaval in Canada, in the midst of a trade war with longtime allies under President Donald Trump and must immediately hold a general election.
Carney, 59, won 86% of the votes cast to beat former finance minister Christia Freeland in a contest voted by less than 152,000 party members.
“There are people trying to weaken our economy,” Carney said of Trump, spurring a big boo at party gatherings. “He's attacking Canadian workers, families and businesses. He can't make it a success.”
“This isn't business as usual,” Carney said. “We have to do things we never imagined before.
Trudeau announced in January that he would step down after more than nine years of power after his approval rating plummeted, forcing the ruling Liberal Party to run a simple contest to replace him.
“Don't make mistakes. This is the moment that defines a nation. No democracy is given. No freedom is given. No even in Canada,” Trudeau said.
Politics beginner Carney argued that he was perfect for overseeing trade negotiations with Trump, who is reviving the party and threatening additional tariffs that could cripple Canada's export-dependent economy.
Trudeau has imposed a $30 billion retaliatory tariff on the United States in response to the tariffs that Trump has collected on Canada.
“My government will maintain tariffs until Americans show respect for us,” Carney said.
Kearney's victory is the first time an outsider with no real political background has become Canadian prime minister. He had his experience as the first serving as governor of two G7 central banks, Canada and the UK, meaning he was the perfect candidate to deal with Trump.
The prospect of a fresh start for the liberal party under Carney, coupled with Trump's tariffs and his repeated provocations to the Annex to Canada as the 51st state in the United States, led to a prominent revival of liberal fate.
Rally Around Moment
At the beginning of 2025, the party tracked over 20 points, but now several polls have statistically linked to the official opposition Conservative Party, led by career politician Pierre Polyereb.
Dozens of Canadians embraced signs of protesting Trump, referring to domestic politics, in protest outside a Canadian parliament building in Ottawa on Sunday.
“There's a Rally Around the Flag moment that I wouldn't have predicted a year ago,” said Richard Johnston, a political professor at the University of British Columbia. “I think it's probably true because the liberals talk about how they've been saved from forgetting.”
However, polls show that neither the Liberals nor the Conservatives can form a majority government. The election must be held by October 20th.
According to two liberal sources, Kearney said he will call the election in the coming weeks. This means that one could happen much earlier.
Carney was able to legally serve as a prime minister without a seat in the House, but tradition has directed that he should try to win as soon as possible.
Liberals have tried to compare conservative leader PolyAble to Trump in a recent ad. Poiriebre strengthened his attack on Kearney on Sunday.
