The former governor of the Canadian and UK central banks won the Liberal Party leadership contest decisively, capturing 85.9% of the vote on the first ballot against former finance minister Chrystia Freeland.

Celebrations erupted among the approximately 1,600 party members in Ottawa as the results were announced. The leadership race attracted over 150,000 voters and marked a significant political shift for the Liberals, who have gained momentum since Justin Trudeau’s resignation due to declining approval ratings linked to a housing crisis and rising living costs.

Carney, who has never held elected office, is expected to be sworn in soon and will lead the Liberals into an upcoming general election. He addressed Trump’s “unjustified tariffs” on Canadian goods in his victory speech, emphasising that his government would maintain tariffs on US imports until Canada receives the respect it deserves.

With Canada’s economy heavily reliant on trade with the US, Carney warned that the situation could lead to a recession if Trump’s tariffs are fully implemented. “These are dark days brought on by a country we can no longer trust,” he stated, urging Canadians to unite in facing future challenges.

Carney also committed to securing Canada’s borders, responding to Trump’s criticisms regarding immigration. He criticised Conservative leader Pierre Poilievre, suggesting that his approach would leave Canada vulnerable to external pressures.

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As Carney prepares to take office, he faces a divided parliament with the Conservatives holding 120 seats, the Bloc Quebecois 33, and the New Democrats 24. His centrist agenda includes advancing major energy projects, investing in housing and clean energy, and liberalizing trade within Canada to reduce dependency on the US.

Federal Public Safety Minister David McGuinty expressed confidence in Carney’s leadership, stating that he possesses the determination and competence necessary to address pressing issues.