Canada's Next PM Mark Carney Vows To Win Trade War With Trump: 'Americans Should Make No Mistake'

Mark Carney has won the Liberal Party leadership race to succeed Justin Trudeau as Canada’s prime minister, vowing to stand firm against U.S. President Donald Trump’s trade threats as tensions escalate between the neighboring countries.

What Happened: Carney, 59, the former governor of both the Bank of Canada and Bank of England, secured 85.9% of the vote in a landslide victory over rivals including former Finance Minister Chrystia Freeland, reported BBC. The political newcomer has never held elected office but brings significant financial and crisis management experience to the role.

“Americans should make no mistake,” Carney said in his victory speech. “In trade, as in hockey, Canada will win.” He promised to maintain retaliatory tariffs on U.S. imports “until the Americans show us respect.”

The leadership transition comes amid escalating trade tensions after Trump imposed 25% tariffs on Canadian goods last week, though some products were later exempted. Canada responded with reciprocal tariffs on C$155 billion ($109 billion) worth of U.S. imports.

“I know these are dark days,” Carney told supporters. “Dark days brought on by a country we can no longer trust.”

See Also: Stock Futures Drop As ‘Reverse Trump Trade' Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue' And Will Likely Continue For A Decade

Why It Matters: Carney’s economic platform includes pushing forward major energy projects like pipelines, investing in housing and clean energy, liberalizing inter-provincial trade, and diversifying Canada’s economy beyond U.S. dependence. He also pledged to cap federal government size, which expanded by 40% under Trudeau.

Carney, who will lead a minority government, faces significant challenges beyond trade disputes, including Canada’s housing crisis and rising cost of living that contributed to Trudeau’s declining popularity.

The Harvard-educated former Goldman Sachs banker’s appointment marks a historic shift in Canadian politics as he becomes the first prime minister without prior legislative or cabinet experience.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.