Former central banker Mark Carney has won the leadership race for Canada’s ruling Liberal Party and is set to succeed Justin Trudeau as prime minister, official results confirmed on Sunday.
Carney takes over during a turbulent period for Canada, which is embroiled in a trade war with its longtime ally, the United States, and faces an impending general election.
The 59-year-old secured an overwhelming victory, winning 86% of the votes against former Finance Minister Chrystia Freeland in a contest where nearly 152,000 party members participated.
Trudeau announced in January that he would step down after more than nine years in office, as his approval ratings plummeted. This prompted the Liberal Party to hold a swift leadership race to choose his successor.
“Make no mistake, this is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given,” Trudeau declared.
“Now, as Canadians face an existential challenge from our neighbor—an economic crisis—Canadians are showing exactly what we are made of.”
Despite being a political newcomer, Carney positioned himself as the best candidate to rejuvenate the party and lead critical trade negotiations with U.S. President Donald Trump, who has threatened further tariffs that could severely impact Canada’s export-driven economy.