Mark Carney was sworn in as Canada's new prime minister on Friday amid challenges including the trade war with the US and 'threats' to the country's sovereignty.
Replacing Justin Trudeau, Carney (59) took oath in the presence of General Mary Simon. Trudeau announced his resignation in January but remained in power until the Liberal Party elected a new leader.
Watch live: Mark Carney sworn in as Canada’s 24th prime minister
— The Independent (@Independent) March 14, 2025
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The former head of the Bank of Canada and the Bank of England is Canada’s 24th prime minister. Carney is widely expected to trigger a general election in the coming days.
“Today, we’re building a government that meets the moment. Canadians expect action — and that’s what this team will deliver. A smaller, experienced cabinet that moves faster, secures our economy, and protects Canada’s future,” said Carney after swearing in.
Carney's leadership marks a significant change in Canada's political landscape amid deteriorating relations with the US.
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Carney had said that he is ready to meet President Donald Trump if he shows respect for Canadian sovereignty "and is willing to take a common approach, a much more comprehensive approach for trade."
Francois-Philippe Champagne will be his finance minister as Dominic LeBlanc was shifted to manage international trade amid a raging tariff dispute with Trump.
Trump imposed 25 per cent tariffs on Canada's steel and aluminium and threatened to sweep tariffs on all Canadian products with effect from April 2. Trump also threatened to annex the entire country as a 51st state.
Meanwhile, Trump's annexation threat has paved the way for a surge in Canadian nationalism, which is giving an edge to the Liberal Party in the upcoming parliamentary election.
Also, the Liberal rankings are improving in the opinion polls after Carney stepped in. Conservative Party, led by Pierre Poilievre, lost its lead in recent weeks.
As the head of the Bank of Canada from 2008, Carney navigated several crises.
Melanie Joly will continue as foreign minister, and David McGuinty will remain the public safety minister.
