Mark Carney: A Former Banker Ascends to Canada's Prime Ministership

Mark Carney, former central banker, is set to become Canada's prime minister amid trade tensions with the U.S. He plans to strengthen alliances in Europe and is preparing for a snap election. Carney reshaped his cabinet to focus on U.S. relations, while planning to retain retaliatory tariffs on American goods.

Mark Carney, a former central banker, is making headlines as he is formally sworn in as Canada's new prime minister on Friday. With U.S. President Donald Trump's tariffs posing a threat to Canada's economy, Carney's appointment is significant for the trade-dependent nation.

In an unprecedented move, Carney, who lacks substantial political experience, assumes office as Canada's leader, succeeding Justin Trudeau. Diplomatic sources reveal Carney's imminent visits to London and Paris, emphasizing Canada's effort to strengthen its European alliances amidst deteriorating relations with the United States.

Carney quickly reshaped his cabinet, appointing Finance Minister Dominic LeBlanc to the international trade portfolio, concentrating on Canada-U.S. relations, with Francois-Philippe Champagne taking over as Finance Minister. All moves signal a strategy to handle escalating tensions with Washington. Speculations of a snap election loom, with Carney poised to call for it shortly, while polls predict a closely contested race against the opposition Conservatives.

(With inputs from agencies.)