Description: The former Governor of Bank of Canada, Mark Carney was elected as the next Liberal party leader and successor of Justin Trudeau. Carney received 86% of the votes from nearly 400,000 party members who registered to participate in the leadership election. Carney in his address towards the party members in Ottawa pledged to impose counter tariffs on the US and continue the fight for Canada’s trade and economic independence. Projections have stated that he might call for an early election to strengthen his position, which might prove to be difficult as the Conservative party leader Pierre Poilievre noted that Canadians have had enough of the Liberal policies.
Impact: Canada as one of the largest trade partners to the US, found itself in an economically precarious position with the imposition of Trump’s tariffs. The announcement of Justin Trudeau for stepping down as the country’s Prime Minister could have been a mid – term risk in terms of government continuance. The smooth and effective transition within the Liberal party leadership towards Mark Carney could further rally the public behind the Liberal party as Canada currently faces dissolution in economic cooperation with the US. Carney’s pledges to counter US tariffs and call for early elections could reinforce his political stance and effectively guarantee the Prime Minister candidacy. Global implications aren’t farfetched as Canada would aim to strengthen strategic and economic partnerships with Europe and other similarly aligned countries and regions which could threaten the USMCA (United States, Mexico Canada trade agreement).