Mark Carney, former central banker, has been sworn in as Canada’s new prime minister amidst challenges including a trade war initiated by U.S. President Donald Trump, threats of annexation, and an impending federal election. Carney, aged 59, succeeds Prime Minister Justin Trudeau and is expected to call for a general election soon.

The Liberal Party, previously facing potential defeat, now stands to benefit from the escalating tensions with the U.S., triggered by Trump’s imposition of tariffs on Canadian steel and aluminum and his annexation threats. Carney has expressed readiness to engage with Trump under conditions of mutual respect and a comprehensive trade approach.

The surge in Canadian nationalism in response to Trump’s actions has boosted the Liberal Party’s electoral prospects, with opinion polls showing improved standings. Carney’s experience in navigating crises as the head of the Bank of Canada and the Bank of England positions him as a capable leader to guide Canada through the current trade challenges.

Despite his lack of political background, Carney, a former Goldman Sachs executive, is viewed favorably internationally. Former Prime Minister Jean Chrétien acknowledges Carney’s capabilities but highlights the unprecedented challenges posed by Trump’s unpredictable decision-making. As the 24th prime minister of Canada, Carney faces the task of leading the country through turbulent times with a mix of international expertise and political acumen.