Former central banker Mark Carney is poised to take over as Canada’s next prime minister following a landslide victory to lead the ruling Liberal Party. Carney met with outgoing Prime Minister Justin Trudeau on Monday, assuring a swift and seamless transition of power. Reports indicate he could formally assume office by the end of the week.

Carney’s leadership comes at a crucial time, as Canada faces escalating trade tensions with the United States under President Donald Trump. The U.S. has threatened to impose steep tariffs on Canadian steel and aluminum, while also raising concerns over potential annexation claims. In response, Canada has already imposed retaliatory tariffs and is taking further measures to protect its economy.

Ontario Premier Doug Ford announced a 25% surcharge on electricity exports to key U.S. states, warning that further restrictions could follow if necessary. Foreign Minister Mélanie Joly expressed support for such countermeasures, emphasizing the need for strong responses to U.S. trade policies.

Carney, who lacks a seat in Parliament, is expected to call a general election soon to solidify his mandate. His leadership bid gained momentum amid Trump’s return to the White House, with national unity efforts boosting the Liberals' standing in the polls. However, the opposition Conservatives remain strong, with leader Pierre Poilievre accusing Carney of prioritizing corporate interests over national well-being.

As Canada braces for potential economic and political turbulence, Carney faces the challenge of maintaining public support while steering the country through a volatile global landscape.