Ottawa: Mark Carney, a former central banker, was officially sworn in as Canada’s prime minister on Friday. Shortly after taking office, he expressed confidence in his ability to work with U.S. President Donald Trump, despite the latter’s proposed tariffs that could severely impact the Canadian economy.
Carney, 59, succeeds Justin Trudeau, whose relationship with Trump was often tense and combative. In contrast, Carney signaled a more pragmatic approach to U.S.-Canada relations.
“In many respects, part of my experience overlaps with that of the President—we’re both looking out for our countries. But he knows, and I know from long experience, that we can find mutual solutions that win for both,” he said.
Canada's new Prime Minister Mark Carney said he looked forward to speaking with US President Donald Trump. While he said he had no immediate plans for talks, Carney also said Trump administration talk of annexing Canada was 'crazy' https://t.co/T4HMmv8Uy5 pic.twitter.com/ame8RIrlq3
— Reuters (@Reuters) March 15, 2025
While Carney stated that he had no immediate plans to engage directly with Trump, he dismissed discussions within the U.S. administration about annexing Canada as “crazy.”
Reshaped Cabinet Focused on U.S. Relations
Carney quickly restructured his 24-member cabinet with a clear focus on handling relations with Washington, significantly reducing the number of ministerial positions inherited from Trudeau.
Dominic LeBlanc, who previously held the finance portfolio, was reassigned to international trade, with Innovation Minister François-Philippe Champagne stepping in as the new finance minister. Foreign Minister Mélanie Joly retained her position.
Immediate Policy Action and Upcoming Election
With the next federal election mandated by October 20, Carney faces an uphill battle against the opposition Conservatives, who have long opposed Trudeau-era policies, particularly the consumer carbon tax. Moving swiftly, Carney signed an order eliminating the tax during his first cabinet meeting.
“This will make a difference to hard-pressed Canadians,” he told his ministers.
Carney’s rapid ascent to the premiership is remarkable, as he becomes the first Canadian prime minister without significant political experience. His background as the former governor of both the Bank of Canada and the Bank of England played a key role in shaping his leadership narrative.
Strengthening International Alliances
Carney announced plans to visit London and Paris next week, emphasizing Canada’s commitment to strengthening alliances in Europe amid strained relations with the United States.
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His rise to power followed a decisive victory in the Liberal Party leadership race on Sunday, replacing Trudeau, who had served as prime minister for more than nine years. The transition was catalyzed by former finance minister Chrystia Freeland’s unexpected resignation last December, which triggered a political crisis that contributed to Trudeau’s departure. Freeland now serves as transport minister in Carney’s cabinet.
Election Speculation and Political Uncertainty
Carney has hinted at calling a snap election within the next two weeks, though Liberal insiders suggest he has yet to make a final decision. If he opts against it, opposition parties have signaled their intent to unite in a confidence vote by the end of March, potentially toppling the minority government.
Once an election is called, Carney will be constrained by convention, preventing him from making major policy decisions during the campaign.
Current polling indicates a tight race between the Liberals and Conservatives, with neither party securing a clear path to a majority government. Although the Conservatives previously enjoyed a strong lead in the polls, fueled by discontent over rising living costs and a housing crisis, recent shifts suggest a narrowing gap.
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Conservative leader Pierre Poilievre wasted no time in criticizing Carney’s cabinet selections.
“100% of Carney’s ministers were in Trudeau’s caucus—helping hike carbon taxes and double the debt, housing costs, and food bank lineups,” Poilievre posted on X. “A Liberal is a Liberal is a Liberal.”
