• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
PoliticsCanada

Mark Carney to become Canada’s next prime minister, taking on Trump’s trade war and annexation threat

By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
March 9, 2025, 6:52 PM ET
Mark Carney during a Liberal Party leadership debate in Montreal on Feb. 24.
Mark Carney during a Liberal Party leadership debate in Montreal on Feb. 24.Graham Hughes—Bloomberg via Getty Images

Former central banker Mark Carney will become Canada’s next prime minister after the governing Liberal Party elected him its leader Sunday as the country deals with U.S. President Donald Trump’s trade war and annexation threat, and a federal election looms.

Recommended Video

Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remains prime minister until his successor is sworn in in the coming days.

Carney navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694. His appointment won bipartisan praise in the U.K. after Canada recovered from the 2008 financial crisis faster than many other countries.

The opposition Conservatives hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose and immigration surged.

Trump’s trade war and his talk of making Canada the 51st U.S. state have infuriated Canadians, who are booing the American anthem at NHL and NBA games. Some are canceling trips south of the border, and many are avoiding buying American goods when they can.

The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election expected within days or weeks, and Liberal showings have been improving steadily in opinion polls.

“We have made this the greatest country in the world and now our neighbors want to take us. No way,” Carney said.

After decades of bilateral stability, the vote on Canada’s next leader now focused on who is best equipped to deal with the United States.

Carney picked up one endorsement after another from Cabinet ministers and members of Parliament since declaring his candidacy in January. He is a highly educated economist with Wall Street experience who has long been interested in entering politics and becoming prime minister, but he lacks political experience.

The other top Liberal leadership candidate was former Deputy Prime Minister Chrystia Freeland. Trudeau told Freeland in December that he no longer wanted her as finance minister, but that she could remain deputy prime minister and the point person for U.S.-Canada relations. Freeland resigned shortly after, releasing a scathing letter about the government that proved to be the last straw for Trudeau.

The party is also expected to pay tribute to Trudeau on Sunday evening. More than 151,000 Liberal members voted.

“There is a remarkable wave of patriotism across our country,” Freeland said. “All of us have one message for Donald Trump tonight. Canada will never be the 51st state.”

The new leader is expected to trigger an election shortly afterward. Either the new Liberal party leader will call one, or the opposition parties in Parliament could force one with a no-confidence vote later this month.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Rob Gillies
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

trump
PoliticsGaza
Trump is charging world leaders $1 billion each for their countries to permanently join Gaza ‘Board of Peace’
By Cara Anna, Josh Boak and The Associated PressJanuary 18, 2026
6 hours ago
frey
PoliticsMinnesota
Minneapolis mayor defiant over prospect of troopers in the street: ‘It is not fair, it’s not just, and it’s completely unconstitutional’
By Jack Brook, Sarah Raza and The Associated PressJanuary 18, 2026
6 hours ago
EconomyDebt
Dollar sinks as Trump’s new tariffs raise fears about U.S. debt and reserve currency status. ‘When it’s lost, economic collapse will follow’
By Jason MaJanuary 18, 2026
7 hours ago
PoliticsMedia
After adding Trump administration statements, ’60 Minutes’ to air report on deportations that Bari Weiss abruptly pulled
By David Bauder and The Associated PressJanuary 18, 2026
8 hours ago
AIHousing
An AI-generated version of Trump’s voice is used in ad that promises an ‘all new Fannie Mae’ to tackle housing affordability
By Anne D'Innocenzio and The Associated PressJanuary 18, 2026
9 hours ago
PoliticsRussia
Moscow cheers NATO crisis as the Ukraine war stifles Russia’s economy, forcing companies to use 4-day weeks and lay off workers
By Jason MaJanuary 18, 2026
10 hours ago

Most Popular

placeholder alt text
Economy
3 things Trump did in 24 hours to show that he's in control of American business
By Eva RoytburgJanuary 8, 2026
11 days ago
placeholder alt text
AI
This CEO laid off nearly 80% of his staff because they refused to adopt AI fast enough. 2 years later, he says he'd do it again
By Nick LichtenbergJanuary 11, 2026
8 days ago
placeholder alt text
Economy
Making billionaires illegal by taxing their wealth wouldn’t even fund the government for a year, budget expert says
By Nick LichtenbergJanuary 17, 2026
2 days ago
placeholder alt text
AI
Ford CEO warns there's a dearth of blue-collar workers able to construct AI data centers and operate factories: 'Nothing to backfill the ambition'
By Sasha RogelbergJanuary 18, 2026
19 hours ago
placeholder alt text
Economy
National debt is already killing the American Dream, says top economist—and it might push the U.S. into an outright depression
By Eleanor PringleJanuary 18, 2026
24 hours ago
placeholder alt text
Economy
Europe can wield this $8 trillion 'sell America' weapon as Trump reignites a trade war over his Greenland conquest ambitions
By Jason MaJanuary 18, 2026
14 hours ago

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.