This past weekend, Mark Carney replaced Justin Trudeau as the new Prime Minister of Canada. Trudeau, who was Prime Minister for nine years, had become more unpopular as time passed, mostly as a result of Canada’s economic state. As with the United States, Canada has experienced massive inflation since the Coronavirus pandemic, with rates softening only recently. These issues, along with a growing national dislike of Trudeau resulted in his announcement to resign from the position of Prime Minister, which was shared back in January.
This makes Mark Carney the new leader of the Liberal Party in Canada, one of the five current major political parties in the country: the Conservative Party, the Bloc Québécois, the Green Party and the New Democratic Party. He won a majority vote in the Liberal Party’s leadership race, making him the replacement for Trudeau. Despite being relatively new to the political scene, Carney was formerly the governor of the Bank of Canada (2008-2013) and the Bank of England (2013-2020). The Liberal Party felt that if anyone would be able to combat the economic crisis, it would be Carney.
Carney enters the position of Prime Minister at a tumultuous time. Facing a looming trade war with the United States due to Trump’s tariff policies (25%) on Canadian goods, Carney has maintained his position that Canada will retaliate with similar tariffs (25%) on American goods. Beyond the economic conflict with the United States, Carney has fought back against Trump’s calls to make Canada the 51st state, calling the notion “crazy”. Carney followed up those remarks by saying that he does in fact respect Trump and the United States, but finds what the President is doing to be a poor decision. Many of Carney’s cabinet members worked under Trudeau, and therefore worked with Trump during his first administration; hopefully, this is a sign of continued positive relations with both countries.
Additionally, the timing of Canada’s next PM election is currently unknown. In Canada, an election for Prime Minister must occur at least once every five years; the next election is scheduled for October of this year. But, under certain circumstances, the election can be moved to a different time, given the agreement of Parliament. Trudeau suspended Parliament so that his successor could be decided, but since that has occurred, Carney, with enough support, could move the election to another time. Carney has refused to speak on when the next election will be, while Conservative Party Leader Pierre Poilievre vows to vote against the Prime Minister’s desire to move the election. Given how the Conservative Party is gaining power in the polls, and considering the general shift to the right in western politics in recent years, Carney’s time as PM could be cut short.
With trade wars at his doorstep, economic instability and a loss of power on the horizon, Mark Carney has inherited a nation in distress. His first major action as Prime Minister was to dismantle a consumer carbon pricing program, one frequently attacked by Conservatives and praised by Liberals. This action angered the Liberal Party, with many labeling Carney as more affiliated to conservative policies than many had previously thought. At a cabinet meeting later in the day, Carney cemented his belief in fighting back against climate change, but the steps he plans to take toward that goal are unknown at this time. Carney has the power to represent a new age in diplomacy between the United States and Canada, and, given his experience in economics, he can hopefully find a path forward away from the impending trade war.
Sources:
https://www.bbc.com/news/articles/cgm1lg3gj7vo
https://www.bbc.com/news/articles/cwydlr3reqpo
https://www.britannica.com/biography/Mark-Carney
