Mark Carney was sworn in as Canada’s prime minister on Friday, succeeding Justin Trudeau. The former central banker emphasized a more collaborative approach with U.S. President Donald Trump, despite looming tariffs that could impact Canada’s economy.
"We respect President Trump. He has put important issues on the agenda, and we understand them," Carney, 59, told reporters. He noted his past interactions with Trump at international meetings and expressed confidence in finding "win-win solutions." However, he dismissed discussions of the U.S. annexing Canada as "crazy."
Carney quickly reshuffled his 24-member cabinet, reducing its size and prioritizing trade relations. Finance Minister Dominic LeBlanc was moved to international trade, while Innovation Minister François-Philippe Champagne took over as finance minister. Foreign Minister Mélanie Joly retained her position.
One of Carney’s first acts was eliminating the Trudeau-era carbon tax, a move aimed at easing financial strain on Canadians. "This will make a difference for hard-pressed Canadians," he stated.
Carney, who previously led both the Bank of Canada and the Bank of England, made history as the first Canadian prime minister without a political background. His rapid rise came after securing leadership of the ruling Liberal Party in a landslide victory. He replaces Trudeau, who spent over nine years in office.
With a snap election likely within two weeks, Carney’s tenure may be brief. Polls suggest a close race between the Liberals and Conservatives, who previously held a double-digit lead amid rising living costs and a housing crisis. Opposition leader Pierre Poilievre criticized Carney’s cabinet, stating, "A Liberal is a Liberal is a Liberal."
Carney plans to visit London and Paris next week to strengthen alliances as tensions with Washington persist.