Mark Carney sworn in as Canada's 24th PM amid US trade tensions and annexation threat (WATCH)
Mark Carney has taken oath as Canada's Prime Minister, facing immediate challenges from US trade tariffs and rising geopolitical tensions. His leadership begins amid economic uncertainty and speculation over key cabinet appointments.
FollowMark Carney, former central banker and newly elected leader of the Liberal Party, has been sworn in as Canada's 24th Prime Minister. Carney was officially sworn in, reciting his oath in both English and French, as per Canada’s long-standing tradition. In his pledge, he affirmed his allegiance to King Charles III, his heirs, and successors, vowing to serve as a "faithful and true servant to His Majesty."
Mark Carney, the former governor of both the Bank of Canada and the Bank of England, has been elected as the new leader of the Liberal Party of Canada, securing a decisive victory with nearly 86% of the 152,000 votes cast. His closest contender, former deputy prime minister Chrystia Freeland, trailed far behind with just 8% support.
Also read: Canada’s incoming Prime Minister Mark Carney vows to defeat US in trade war
At 59, Carney steps into leadership at a critical moment, with US President Donald Trump rolling out significant tariff policy changes that could impact Canada. His inauguration comes amid escalating trade tensions with the United States, following Trump's imposition of tariffs on Canadian steel and aluminum.
Trump has further threatened broader tariffs and controversially suggested annexing Canada as the 51st US state. In response, Carney has expressed a willingness to negotiate, emphasizing the need for mutual respect and comprehensive trade solutions. He aims to navigate Canada through these turbulent times, leveraging his crisis management experience from his tenure at the Bank of Canada and the Bank of England.
According to sources, Carney is expected to retain key ministers in his team, including Finance Minister Dominic LeBlanc, Foreign Affairs Minister Mélanie Joly, and Industry Minister François-Philippe Champagne.
Trudeau resigned on January 6 as both - the Prime Minister and leader of the Liberal Party amid widespread anger over his government's handling of a housing crisis and rising costs of living. Carney stepped up in the role as Canada seeks to counter its looming trade war with US. In a post on X, he said, "Thank you. Now let's build a stronger Canada, together," adding, "We're strongest when we are united."
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