Mark Carney, an economist and a political newcomer, will sworn on Friday as a new Canadian Prime Minister, just days after he was elected leader of the ruling liberal party.
In his previous roles as Governor of Canada, Central Bank of Earth and Bank of England, Carney earlier helped both countries increase financial disorders.
This experience is expected to come in handy while Carney negotiates a trade war with US President Donald Trump.
He will replace the departure Prime Minister Justin Trudeau after the victory of the landslide in last week’s Liberal Leadership race.
Governor General Mary Simon will chair the oaths of Carney – 24. Canadian Prime Minister – and his cabinet ministers. The moment will formally mark the end of nine years of political power for Trudeau.
But the celebration of the inauguration of his successor may be short -lived, if Carney decides to present the next federal election of Canada – currently scheduled for October.
When the elections are happening, Carney is expected to be set up as the best equipped candidate for Trump in the trade war he has started from his return to the White House.
Carney promised to support the reciprocal tariffs of Canada on the specific US goods as long as Trump maintains 25% of universal tariffs on Canadian goods, which is not covered by a trade agreement on state-mexika state agreements (Cusma).
“We can’t let him succeed,” Carney said in his speech about a victory on Sunday.
As long as Americans “show no respect,” Carney said his government would keep the tariffs to the US import.
“I know these are dark days,” Carney said. “The dark days brought by a country where we can no longer believe.
“We have overcome the shock, but not to forget the lessons: we have to look out for ourselves and have to look out for each other. We have to connect in the difficult days ahead.”
Canada depends on the US store. Economists say it risks the recession if Trump’s tariffs are fully imposed.
When the federal elections come, Carney’s chief rival will be the conservative leader Pierre Poilievre, who is compared to Trump in his own style – which some experts now see as an election responsibility, not as assets.
Before threat of tariffs, conservatives enjoyed a lead of 20 points at some electoral polls. Now, some surveys indicate a much closer race.
When the Canadians go to the polls next, liberals will face not only conservatives – who are official opposition with 120 seats in the House of Municipalities – but also Bloc Quebecois, who have 33 places, and new Democrats, who are 24 years old.
