Mark Carney, a former central banker who led both the Bank of Canada and the Bank of England, was formally sworn in as the Prime Minister of Canada on Friday. The event marks the end of Justin Trudeau’s nearly decade-long tenure as prime minister.
In a farewell message, Trudeau said: “Thank you, Canada — for trusting in me, for challenging me, and for granting me the privilege to serve the best country, and the best people, on earth.”
Carney’s swearing-in ceremony was conducted by Governor General Mary Simon at Rideau Hall in Ottawa, with his cabinet members also taking their oaths shortly after.
“Feeling very good, we’re very targeted,” Carney told reporters as he arrived at Rideau Hall to swear in his new cabinet. Speaking in both English and French, he added, “Our message is we’re a very focused government, we’re focused on action at this time. I’m ready to go.”
Carney, who lacks substantial political experience, secured a decisive victory in the Liberal Party leadership contest, winning nearly 86% of the votes.
His appointment comes at a challenging time for Canada, as the country faces trade tensions with the United States under President Donald Trump. Trump has imposed tariffs on Canadian goods and suggested integrating Canada into the US, prompting retaliatory measures from Canada.
Carney has expressed readiness to engage with Trump, emphasising that Canada will maintain its tariffs until the US shows respect for Canadian sovereignty.
The PM will also travel to Paris and London next week to reinforce diplomatic relations with European leaders.
His cabinet is expected to be leaner than Trudeau’s, focusing on economic stability and US-Canada relations. Key ministers like Mélanie Joly, Dominic LeBlanc, and François-Philippe Champagne are set to retain their roles.
Carney’s leadership is seen as crucial in navigating these economic challenges and maintaining Canadian sovereignty in the face of US pressures.
The upcoming federal election, currently scheduled for October, will be a significant test for Carney’s leadership and the Liberal Party’s ability to maintain power.