Mark Carney's Ascent: From Central Banker to Canada's Premier

Ex-central banker Mark Carney is set to become Canada's prime minister, succeeding Justin Trudeau. Amid tensions with the U.S. over tariffs, Carney plans to strengthen ties with Europe. With potential snap elections looming, his leadership faces immediate challenges both domestically and internationally.

Mark Carney, a former central banker, will formally take office as the prime minister of Canada on Friday. His leadership comes at a crucial time as he prepares to address tariffs imposed by U.S. President Donald Trump that threaten Canada's trade-dependent economy. The oath of office ceremony will be led by Governor General Mary Simon, representing King Charles, the head of state.

This appointment marks a significant milestone for the 59-year-old Carney, who lacks prior political experience. A diplomat has indicated that Carney plans to visit London and Paris next week, recognizing the need to bolster alliances in Europe while Canadian-U.S. relations continue to deteriorate.

Carney emerged victorious in the Liberal Party leadership race, succeeding Justin Trudeau's nine-year tenure. Carney's experience leading the Bank of Canada and Bank of England bolstered his claim to adeptly handle crises, presenting himself as the fitting leader to counter Trump's challenges, particularly regarding threats of annexation.

Carney expressed readiness to engage with Trump, provided Canadian sovereignty is respected. Retaliatory tariffs on U.S. goods remain until the U.S. adjusts its stance. He is poised to announce a cabinet ahead of a likely snap election, given Liberal insiders' insights and opposition parties' threat to force a confidence vote by March's end.

Current opinion polls indicate a tight contest with the Conservatives, suggesting no clear majority for either party.

(With inputs from agencies.)