Latest News

Mark Carney sworn in as Canada’s PM after Trudeau steps down

Mark Carney has been sworn in as Canada’s prime minister, succeeding Justin Trudeau, as the country faces questions about its sovereignty from US President Donald Trump and a trade war with Canada’s largest trading partner, the United States.

Carney, a former central banker who has never held public office in Canada, is stepping in to confront the challenges facing the country, including leading the Liberal Party into an election to be held later this year.

Carney was sworn in after Trudeau stepped down earlier Friday after nearly a decade in power.

Trudeau announced his resignation in January as polls showed his Liberal Party would likely face defeat in an upcoming election. But the party’s fortunes have since improved amid growing Canadian antipathy toward Trump and his policies.

In a farewell message posted on X on Friday, Trudeau said: “Thank you, Canada – for trusting in me, for challenging me, and for granting me the privilege to serve the best country, and the best people, on earth.”

The former governor of the Bank of Canada and the Bank of England was elected Liberal Party leader in a landslide on March 9. During his decades-long career in finance, Carney steered governments through major global crises and periods of upheaval — experience he’s hoping to now leverage as he prepares to take over from Trudeau.

The Liberals have been courting Carney for more than a decade, and he advised Trudeau on Canada’s economic recovery from Covid-19. But the banker-turned-politician did not make his official entrance until Trudeau announced his resignation in January. All of his competitors were sitting politicians: Carney is in the unusual situation of becoming Canada’s prime minister without holding a seat in parliament.

This post appeared first on cnn.com

You May Also Like

Economy

Top House Republicans are leading a bill to reverse the Biden administration’s decision to lift sanctions on a Chinese entity linked to the persecution...

Editor's Pick

The rise of Asian fast fashion retailer Shein already has Amazon on alert, but its plans of selling proprietary supply-chain technology and services to...

Economy

Minnesota Gov. Tim Walz is facing scrutiny from Republicans over what they say are pro-China remarks, including an interview in which the Democratic vice...

Economy

Ahead of a planned trip to China this week, U.S. Secretary of State Antony Blinken is reported to have alleged that Beijing is still...

Disclaimer: Smartmerchantknow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 smartmerchantknow.com

Exit mobile version