Mark Carney, crisis-fighting central banker, to lead Canada through US trade war
David Ljunggren
Updated Sun, March 9, 2025
David Ljunggren
Updated Sun, March 9, 2025
Mark Carney, crisis-fighting central banker, to lead Canada through US trade war
FILE PHOTO: Liberal Party leadership candidate Carney speaks in Windsor, Ontario
By David Ljunggren
OTTAWA (Reuters) -Mark Carney, soon to become Canada's new prime minister, is a two-time central banker and crisis fighter about to face his biggest challenge of all: steering Canada through Donald Trump's tariffs.
The Liberals announced Carney as Justin Trudeau's successor on Sunday after party members voted in a nominating contest. Trudeau resigned in January, facing low approval ratings after nearly a decade in office.
The 59-year-old Carney is a political outsider who has never held office, which would in normal times have killed his candidacy in Canada. But distance from Trudeau and a high-profile banking career played to his advantage, and Carney argues he is the only person prepared to handle Trump.
"I know how to manage crises ... in a situation like this, you need experience in terms of crisis management, you need negotiating skills," Carney said during a leadership debate late last month.
Carney was born in Fort Smith in the remote Northwest Territories. He attended Harvard where he played college level ice hockey, starring as a goalkeeper.
Carney, who garnered the most party endorsements and the most money raised among the four Liberal candidates, will soon be the first person to become Canadian prime minister without being a legislator and without having had any cabinet experience.
He argues Canada must fight Trump's tariffs with dollar for dollar retaliation and diversify trading relations in the medium term.
In the next election, which must be held by October 20, the Liberals will face off against the official opposition Conservatives, whose leader Pierre Poilievre is a career politician with little international exposure.
By contrast, Carney is a globetrotter who spent 13 years at Goldman Sachs before being named deputy governor of the Bank of Canada in 2003. He left in November 2004 for a top finance ministry job and returned to become governor of the central bank in 2008 at the age of just 42.
POACHED BY THE BANK OF ENGLAND
Carney won praise for his handling of the financial crisis, when he created new emergency loan facilities and gave unusually explicit guidance on keeping rates at record low levels for a specific period of time.
Even at that stage, rumors swirled that he would seek a career in politics with the Liberals, prompting him to respond with a prickliness that is still sometimes evident.
"Why don't I become a circus clown?" he told a reporter in 2012 when asked about possible political ambitions.
The Bank of England was impressed enough though to poach him in 2013, making him the first non-British governor in the central bank's three-century history, and the first person to ever head two G7 central banks. Britain's finance minister at the time, George Osborne, called Carney the "outstanding central bank governor of his generation".
Carney, though, had a challenging time, forced to face zero inflation and the political chaos of Brexit.
He struggled to deploy his trademark policy of signaling the likely path of interest rates. The bank said its guidance came with caveats but media often interpreted it as more of a guarantee, with Labour legislator Pat McFadden dubbing the bank under Carney as an "unreliable boyfriend."
When sterling tumbled in the hours after the Brexit referendum result in 2016, Carney delivered a televised address to reassure markets that the bank would turn on the liquidity taps if needed.
"Mark has a rare ability to combine a central banker's steady hand, with a political reformer's eye to the future," said Ana Botin, Santander's executive chairman, in a written comment to Reuters. She said Carney "steadied the ship" in the UK after Brexit.
'HIGH PRIEST OF PROJECT FEAR'
But he infuriated Brexit supporters by talking about the economic damage that he said was likely to be caused by leaving the European Union. Conservative lawmaker Jacob Rees-Mogg called him the "high priest of project fear" but Carney said it was his duty to talk about such risks.
Carney also showed irritation with his predecessor in the job, Mervyn King, whom he said had not spotted the risks building in the financial sector before the 2007-08 financial crisis.
From 2011 to 2018 Carney also headed the Financial Stability Board, which coordinates financial regulation for the Group of 20 economies.
After leaving the Bank of England in 2020, Carney served as a United Nations envoy on finance and climate change.
After launching the Glasgow Financial Alliance for Net Zero in 2021 to act as an umbrella group for financial sector efforts to get to net-zero emissions, Carney oversaw a surge in membership as boards rushed to signal a willingness to act.
As the implications of moving to renewable energy began to filter down to the real economy, though, a political backlash from some Republican states accusing companies of breaching anti-trust rules ultimately led a number of large U.S. companies to drop their membership.
He also served on the board of Brookfield Asset Management and was chair of the Bloomberg board but resigned as the U.N. special envoy and left all commercial posts after he launched his bid for the Liberal leadership on January 16.
Carney's lack of political experience showed when the Conservatives pressed him over a decision by Brookfield to move its headquarters from Canada to the United States. Carney said the move took place after he resigned in January but the Conservatives found a letter he wrote to shareholders in December 2024 recommending the move.
"Sometimes I answer questions that go into details when I should keep it at a higher level. That's part of the problem with not being a politician," he told reporters when asked about Conservative allegations he had lied.
(Additional reporting by William Schomberg, Elisa Martinuzzi and Simon Jessop in London; Editing by Caroline Stauffer and Sandra Maler)
Canada picks a new leader to replace Trump target Justin Trudeau
Josh Fellman
Sun, March 9, 2025
Photo: Andrej Ivanov (Getty Images)
Donald Trump won’t have Justin Trudeau to kick around any more. Canada’s ruling Liberal party picked Mark Carney — a former central bank governor known as a competent technocrat — as its new leader. He’s likely be sworn in as prime minster within days, replacing Trudeau.
Observers said Carney is expected to call an election almost immediately — one is due no later than October this year — which must be held on a Monday no more than 51 days after being announced. That would mean Parliament, currently suspended, wouldn’t resume sitting on March 24 as scheduled.
The election is likely to turn on a single issue: Who can best battle Trump over tariffs and resist his threats to annex the country as “the 51st state.” So far, Canada’s famously fickle — and now irate — voters have shown more trust in the Liberals, who are leading the opposition Conservatives in opinion polls for the first time since 2021.
“The next federal election is the most important of my lifetime,” said Ravi Kahlon, British Columbia’s housing minister and house leader for the left-of-center New Democratic Party-led government. While he doesn’t care who leads the federal Liberal party, he wants the next PM to be someone who will stand up for Canada. “People want someone in there who will fight for the country and not cave,” he said before Carney’s selection was announced.
Given Trump’s public derision of Trudeau, who he slights by calling “governor,” the selection of a new Canadian PM leader may change the political temperature. Carney, a former head of the Bank of Canada and the Bank of England, is known as a careful operator able to manage difficult political situations.
Main opposition leader Pierre Poilievre will have to battle public perceptions that he’s ideologically too close to the U.S. president and so he wouldn’t take a sufficiently tough stance in talks. A pivot is possible: Premier Doug Ford of Ontario won reelection after flipping from public Trump fan to tariffs foe.
The trade war will probably stay live during the campaign, with Trump only suspending some duties until early April and then on Friday threatening new levies on Canadian softwood lumber and dairy products. S&P Global (SPGI) economists cut their GDP forecast for Canada in the event of a long dispute.
New Canadian PM Mark Carney vows to fight US trade war ‘until Trump shows respect’
Alexander Butler
Sun, March 9, 2025
Former Bank of England governor Mark Carney has succeeded Justin Trudeau as Canadian PM (REUTERS)
Canada’s new prime minister, Mark Carney, has vowed to take on Donald Trump and urged his country to unite in a defiant acceptance speech during a fierce trade war with the United States.
The former Bank of England governor, who will be sworn in as Justin Trudeau’s successor in the coming days, was on Sunday night elected as Canada’s new prime minister by the country’s governing Liberal Party as tensions escalate over tariffs with its closest neighbour.
After winning with with 85.9 per cent of the votes cast by 150,000 members, Mr Carney hit out at Mr Trump for “attacking Canadian families” and wanting to “destroy the Canadian way of life”, describing the US president’s tariffs and threats as the “greatest crisis of our lifetime”.
“There is someone who is trying to weaken our economy. Donald Trump. Donald Trump has put unjustified tariffs on what we build, sell and how we make a living,” he said.
Mark Carney has succeeded Justin Trudeau as Canada’s Liberal Party leader (AP)
After the US last week slapped sweeping 25 per cent tariffs on Canadian goods, Canada retaliated with its own 25 per cent tariffs on up to $155bn in US goods over the course of this month.
Mr Trudeau said in a televised address last week: “It’s not in my habit to agree with the Wall Street Journal, but Donald, they point out that even though you are a very smart guy, this a very dumb thing to do.”
While Mr Trudeau described the neighbouring countries as “two friends fighting”, Mr Carney said the US was a country Canada “could no longer trust”.
Mr Carney, 59, will now have to negotiate with Mr Trump as he threatens additional tariffs that could further cripple Canada’s economy.
During his speech Mr Carney said: “The Canadian government has rightly retaliated with tariffs. We will keep our tariffs on until the Americans show us respect.
“We did not ask for this fight. But Canadians are always ready when someone else drops the gloves. Make no mistake, Canada will win.”
He then turned his attack on Canadian opposition leader Pierre Poilievre, who he said "worships at the altar of Donald Trump”.
Mark Carney hit out at Donald Trump for trying to ‘destroy the Canadian way of life’ (EPA)
While the Conservative party has been gaining ground in recent months, like in other Western democracies, a surge in Canadian nationalism amid aggression from the US over trade and threats to make Canada America's 51st state has bolstered the Liberal Party's chances in the parliamentary election expected within days or weeks.
"We have made this the greatest country in the world and now our neighbours want to take us. No way," Mr Carney added. “We can’t change Donald Trump … [but] because we’re masters in our own home, we can control our economic destiny.”
Mr Carney’s fiery stance marks a dramatic shift in the rhetoric of Western leaders speaking out against Mr Trump, and will be watched closely by those in the UK and Europe, with the US president vowing to put tariffs on the EU, which he said was created to “screw” the United States.
Repeating the phrase “Canada strong”, Mr Carney said Canadians could give themselves “far more than Donald Trump could”.
“We have to look out for ourselves and we have to look out for each other, we need to hold together for the tough days ahead,” he said. “We can and we will get through this crisis.”
Mr Trudeau announced in January that he would step down after more than nine years in power as his approval rating plummeted, forcing the ruling Liberal Party to run a quick contest to replace him.
Mr Carney has said his experience as the first person to serve as the governor of two central banks – Canada and England – meant he was the best candidate to deal with Mr Trump.
He said he supported dollar-for-dollar retaliatory tariffs against the United States and a coordinated strategy to boost investment. He has repeatedly complained that Canada's growth under Mr Trudeau was not good enough.
Mr Carney could legally serve as prime minister without a seat in the House of Commons but tradition dictates he should seek to win one as soon as possible.
He will also have to decide when to call a general election, which must be held on or before 20 October of this year.
MARK CARNEY WON LANDSLIDE 86%
AFP
March 9, 2025
Canadian Prime Minister Justin Trudeau called plastic pollution a "global challenge," and said Canada had a unique opportunity to take the lead as the country with the world's longest coastline AFP/File / Lars Hagberg
Canada's Liberal Party looked set Sunday to choose a former central banker and political novice as its next leader, replacing Prime Minister Justin Trudeau as it confronts threats from US President Donald Trump.
Mark Carney, who served as the governor of the Bank of Canada and the Bank of England, is widely expected to be named the new Liberal leader when results from a vote of around 400,000 party members are announced later Sunday.
The other main challenger is Trudeau's former deputy prime minister, Chrystia Freeland, who held several senior cabinet positions in the Liberal government that was first elected in 2015.
Whoever wins the vote will take over from Trudeau as prime minister, but will soon face a general election that polls currently show the rival Conservative Party as slight favorites to win.
Carney has racked up endorsements, including from much of Trudeau's cabinet, and a Freeland win would be a shock for the Liberals as they head towards a general election.
Despite dramatically breaking with the prime minister in December, analysts say voters still tie Freeland to Trudeau's unpopular record.
Carney and Freeland have both maintained that they are the best candidate to defend Canada against Trump's attacks.
The US president has repeatedly spoken about annexing Canada and thrown bilateral trade, the lifeblood of the Canadian economy, into chaos with dizzying tariff actions that have veered in various directions since he took office.
- 'Most serious crisis' -
Carney has argued that he is a seasoned economic manager, reminding voters that he led the Bank of Canada through the 2008-2009 financial crisis and steered the Bank of England through the turbulence that followed the 2016 Brexit vote.
Trump "is attacking what we build. He is attacking what we sell. He is attacking how we earn our living," Carney told supporters at a closing campaign rally near Toronto on Friday.
"We are facing the most serious crisis in our lifetime," he added. "Everything in my life has prepared me for this moment."
Data released from the Angus Reid polling firm on Wednesday shows Canadians see Carney as the favorite choice to face off against Trump, a trait that could offer the Liberals a boost over the opposition Conservatives.
Forty-three percent of respondents said they trusted Carney the most to deal with Trump, with 34 percent backing Tory leader Pierre Poilievre.
Most polls, however, still list the Tories as the current favorites to win the election, which must be held by October but could come within weeks.
- Not a politician? -
Carney made a fortune as an investment banker at Goldman Sachs before entering the Canadian civil service.
Since leaving the Bank of England in 2020, he has served as a United Nations envoy working to get the private sector to invest in climate-friendly technology and has held private sector roles.
He has never served in parliament or held an elected public office.
Analysts say his untested campaign skills could prove a liability against a Conservative Party already running attack ads accusing Carney of shifting positions and misrepresenting his experience.
The 59-year-old has positioned himself as a new voice untainted by Trudeau, who he has said did not devote enough attention to building Canada's economy.
On Friday, Carney said Canadians "from coast to coast" wanted change, and referred to himself as a political outsider.
"It's getting to the point where after two months I may have to start calling myself a politician," he joked.
Trudeau has said he would agree on a transition of power once the new Liberal leader is in place, declining to give an exact date.
When ready, the pair will visit Canada's Governor General Mary Simon -- King Charles III's official representative in Canada -- who will task the new Liberal chief with forming a government.
The new prime minister may only hold the position for several weeks, depending on the timing and outcome of the looming election.
AFP
March 9, 2025
Canadian Prime Minister Justin Trudeau called plastic pollution a "global challenge," and said Canada had a unique opportunity to take the lead as the country with the world's longest coastline AFP/File / Lars Hagberg
Canada's Liberal Party looked set Sunday to choose a former central banker and political novice as its next leader, replacing Prime Minister Justin Trudeau as it confronts threats from US President Donald Trump.
Mark Carney, who served as the governor of the Bank of Canada and the Bank of England, is widely expected to be named the new Liberal leader when results from a vote of around 400,000 party members are announced later Sunday.
The other main challenger is Trudeau's former deputy prime minister, Chrystia Freeland, who held several senior cabinet positions in the Liberal government that was first elected in 2015.
Whoever wins the vote will take over from Trudeau as prime minister, but will soon face a general election that polls currently show the rival Conservative Party as slight favorites to win.
Carney has racked up endorsements, including from much of Trudeau's cabinet, and a Freeland win would be a shock for the Liberals as they head towards a general election.
Despite dramatically breaking with the prime minister in December, analysts say voters still tie Freeland to Trudeau's unpopular record.
Carney and Freeland have both maintained that they are the best candidate to defend Canada against Trump's attacks.
The US president has repeatedly spoken about annexing Canada and thrown bilateral trade, the lifeblood of the Canadian economy, into chaos with dizzying tariff actions that have veered in various directions since he took office.
- 'Most serious crisis' -
Carney has argued that he is a seasoned economic manager, reminding voters that he led the Bank of Canada through the 2008-2009 financial crisis and steered the Bank of England through the turbulence that followed the 2016 Brexit vote.
Trump "is attacking what we build. He is attacking what we sell. He is attacking how we earn our living," Carney told supporters at a closing campaign rally near Toronto on Friday.
"We are facing the most serious crisis in our lifetime," he added. "Everything in my life has prepared me for this moment."
Data released from the Angus Reid polling firm on Wednesday shows Canadians see Carney as the favorite choice to face off against Trump, a trait that could offer the Liberals a boost over the opposition Conservatives.
Forty-three percent of respondents said they trusted Carney the most to deal with Trump, with 34 percent backing Tory leader Pierre Poilievre.
Most polls, however, still list the Tories as the current favorites to win the election, which must be held by October but could come within weeks.
- Not a politician? -
Carney made a fortune as an investment banker at Goldman Sachs before entering the Canadian civil service.
Since leaving the Bank of England in 2020, he has served as a United Nations envoy working to get the private sector to invest in climate-friendly technology and has held private sector roles.
He has never served in parliament or held an elected public office.
Analysts say his untested campaign skills could prove a liability against a Conservative Party already running attack ads accusing Carney of shifting positions and misrepresenting his experience.
The 59-year-old has positioned himself as a new voice untainted by Trudeau, who he has said did not devote enough attention to building Canada's economy.
On Friday, Carney said Canadians "from coast to coast" wanted change, and referred to himself as a political outsider.
"It's getting to the point where after two months I may have to start calling myself a politician," he joked.
Trudeau has said he would agree on a transition of power once the new Liberal leader is in place, declining to give an exact date.
When ready, the pair will visit Canada's Governor General Mary Simon -- King Charles III's official representative in Canada -- who will task the new Liberal chief with forming a government.
The new prime minister may only hold the position for several weeks, depending on the timing and outcome of the looming election.
Canada Liberal Party to choose new leader to replace Trudeau as PM
By AFP
March 9, 2025
Canada's Liberal Party looks set to choose former central banker and political novice Mark Carney as its next leader - Copyright AFP/File ANDREJ IVANOV
Michel Comte with Ben Simon in Toronto
Canada’s Liberal Party names its next leader Sunday, with a former central banker and political novice favored to replace Prime Minister Justin Trudeau as the country confronts threats from US President Donald Trump.
Mark Carney, who served as the governor of the Bank of Canada and the Bank of England, is the front-runner to be tapped Liberal leader when results from a vote of party members are announced later Sunday.
The other main challenger is Trudeau’s former deputy prime minister, Chrystia Freeland, who held several senior cabinet positions in the Liberal government that was first elected in 2015.
Whoever wins will take over from Trudeau as prime minister, but will soon face an election that polls currently show the rival Conservative Party as slight favorites to win.
Carney has racked up endorsements, including from much of Trudeau’s cabinet and more than half of Liberals in parliament.
A Freeland win remains possible but would be a surprise for the party as it heads towards an election that must be held by October, but could come within weeks.
Both Freeland and Carney have maintained that they are the best candidate to defend Canada against Trump’s attacks.
The US president has repeatedly spoken about annexing Canada and thrown bilateral trade, the lifeblood of the Canadian economy, into chaos with dizzying tariff actions that have veered in various directions since he took office.
– ‘Most serious crisis’ –
Party supporters were gathering Sunday at an Ottawa hall draped in red where the winner will be announced.
Luciana Bordignon, a 59-year-old sales representative from Vancouver, told AFP she was backing Carney but was confident the party would be emboldened after the vote.
“I expect to have a good, new, strong leader,” she said.
Lozminda Longkines told AFP that Trump’s repeated musings about making Canada the 51st US state were “a blessing in disguise.”
“We are so united… We have a common enemy,” the 71-year old said.
Carney has argued that he is the ideal counter to Trump’s disruptions, reminding voters that he led the Bank of Canada through the 2008-2009 financial crisis and steered the Bank of England through the turbulence that followed the 2016 Brexit vote.
Trump “is attacking what we build. He is attacking what we sell. He is attacking how we earn our living,” Carney told supporters at a closing campaign rally near Toronto on Friday.
“We are facing the most serious crisis in our lifetime,” he added. “Everything in my life has prepared me for this moment.”
Data released from the Angus Reid polling firm on Wednesday shows Canadians see Carney as the favorite choice to face off against Trump, potentially offering the Liberals a boost over the opposition Conservatives.
Forty-three percent of respondents said they trusted Carney the most to deal with Trump, with 34 percent backing Tory leader Pierre Poilievre.
Before Trudeau announced his plans to resign in January, the Liberals were headed for an electoral wipeout, but the leadership change and Trump’s influence have dramatically tightened the race.
– Not a politician? –
Carney made a fortune as an investment banker at Goldman Sachs before entering the Canadian civil service.
Since leaving the Bank of England in 2020, he has served as a United Nations envoy working to get the private sector to invest in climate-friendly technology and has held private sector roles.
He has never served in parliament or held an elected public office.
Analysts say his untested campaign skills could prove a liability against a Conservative Party already running attack ads accusing Carney of shifting positions and misrepresenting his experience.
The 59-year-old has positioned himself as a new voice untainted by Trudeau, who he has said did not devote enough attention to building Canada’s economy.
On Friday, Carney said Canadians “from coast to coast” wanted change, and referred to himself as a political outsider.
“It’s getting to the point where after two months I may have to start calling myself a politician,” he joked.
In the coming days, Trudeau and the new Liberal chief will visit Canada’s Governor General Mary Simon — King Charles III’s official representative in Canada — who will task the leader with forming a government.
By AFP
March 9, 2025
Canada's Liberal Party looks set to choose former central banker and political novice Mark Carney as its next leader - Copyright AFP/File ANDREJ IVANOV
Michel Comte with Ben Simon in Toronto
Canada’s Liberal Party names its next leader Sunday, with a former central banker and political novice favored to replace Prime Minister Justin Trudeau as the country confronts threats from US President Donald Trump.
Mark Carney, who served as the governor of the Bank of Canada and the Bank of England, is the front-runner to be tapped Liberal leader when results from a vote of party members are announced later Sunday.
The other main challenger is Trudeau’s former deputy prime minister, Chrystia Freeland, who held several senior cabinet positions in the Liberal government that was first elected in 2015.
Whoever wins will take over from Trudeau as prime minister, but will soon face an election that polls currently show the rival Conservative Party as slight favorites to win.
Carney has racked up endorsements, including from much of Trudeau’s cabinet and more than half of Liberals in parliament.
A Freeland win remains possible but would be a surprise for the party as it heads towards an election that must be held by October, but could come within weeks.
Both Freeland and Carney have maintained that they are the best candidate to defend Canada against Trump’s attacks.
The US president has repeatedly spoken about annexing Canada and thrown bilateral trade, the lifeblood of the Canadian economy, into chaos with dizzying tariff actions that have veered in various directions since he took office.
– ‘Most serious crisis’ –
Party supporters were gathering Sunday at an Ottawa hall draped in red where the winner will be announced.
Luciana Bordignon, a 59-year-old sales representative from Vancouver, told AFP she was backing Carney but was confident the party would be emboldened after the vote.
“I expect to have a good, new, strong leader,” she said.
Lozminda Longkines told AFP that Trump’s repeated musings about making Canada the 51st US state were “a blessing in disguise.”
“We are so united… We have a common enemy,” the 71-year old said.
Carney has argued that he is the ideal counter to Trump’s disruptions, reminding voters that he led the Bank of Canada through the 2008-2009 financial crisis and steered the Bank of England through the turbulence that followed the 2016 Brexit vote.
Trump “is attacking what we build. He is attacking what we sell. He is attacking how we earn our living,” Carney told supporters at a closing campaign rally near Toronto on Friday.
“We are facing the most serious crisis in our lifetime,” he added. “Everything in my life has prepared me for this moment.”
Data released from the Angus Reid polling firm on Wednesday shows Canadians see Carney as the favorite choice to face off against Trump, potentially offering the Liberals a boost over the opposition Conservatives.
Forty-three percent of respondents said they trusted Carney the most to deal with Trump, with 34 percent backing Tory leader Pierre Poilievre.
Before Trudeau announced his plans to resign in January, the Liberals were headed for an electoral wipeout, but the leadership change and Trump’s influence have dramatically tightened the race.
– Not a politician? –
Carney made a fortune as an investment banker at Goldman Sachs before entering the Canadian civil service.
Since leaving the Bank of England in 2020, he has served as a United Nations envoy working to get the private sector to invest in climate-friendly technology and has held private sector roles.
He has never served in parliament or held an elected public office.
Analysts say his untested campaign skills could prove a liability against a Conservative Party already running attack ads accusing Carney of shifting positions and misrepresenting his experience.
The 59-year-old has positioned himself as a new voice untainted by Trudeau, who he has said did not devote enough attention to building Canada’s economy.
On Friday, Carney said Canadians “from coast to coast” wanted change, and referred to himself as a political outsider.
“It’s getting to the point where after two months I may have to start calling myself a politician,” he joked.
In the coming days, Trudeau and the new Liberal chief will visit Canada’s Governor General Mary Simon — King Charles III’s official representative in Canada — who will task the leader with forming a government.
Justin Trudeau delivers farewell speech as Canadian Prime Minister
Copyright Sean Kilpatrick/AP
By Malek Fouda
Published on
Trudeau gives his final speech as Canadian Prime Minister.
Canada’s Prime Minister Justin Trudeau delivered an emotional farewell speech to a conference of his Liberal Party on Sunday.
The Canadian leader served in his post for almost a decade, assuming the top job on 4 November, 2015.
Trudeau resigned from his post on 6 January after months of domestic problems which saw his popularity plummet. The declining economic conditions and the country’s direction resulted in dismal polls for Trudeau, who fell in popularity by a significant two digit margin to his main rival Pierre Poilievre of the Conservative Party.
Trudeau was also under growing pressure from his own party who lost confidence in him. Trudeau however decided to remain in power until his successor is named.
But all of that was forgotten in Sunday’s conference, as Trudeau spoke to a crowd who cheered and clapped for him, thanking him for his nine-year tenure.
The outgoing prime minister expressed his gratitude to his party and the Canadian people, saying he was “damn proud” of his time in office, which he said was filled with successes and great accomplishments.
Trudeau also warned the Liberal Party crowd that Canada needs them now more than ever, referencing the growing international crises that threaten to tear down the international rules-based order, and the growing uncertainty in the face of US President Donald Trump’s economic threat on the country.
The Liberal Party will announce a replacement for Trudeau on Sunday to lead the country until a general election is held this year.
Liberal Party members look set to pick former central bank governor Mark Carney as the new party leader and Canada's next prime minister in a vote to be announced on Sunday evening.
Carney, 59, navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694. His appointment won bipartisan praise in the U.K. after Canada recovered from the 2008 financial crisis faster than many other countries.
A general election must be held on or before 20 October. Either the new Liberal party leader will call one, or the opposition parties in Parliament could force one with a no-confidence vote later this month.
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