Toronto, Canada – Mark Carney has been sworn in as the new prime minister of Canada, taking over from Justin Trudeau amidst challenges posed by US President Donald Trump and a trade war with the United States, Canada’s largest trading partner.

Carney, a former central banker with no prior experience in Canadian public office, faces the task of leading the Liberal Party into an election later this year. His inauguration followed Trudeau’s resignation on Friday after nearly ten years in power.

Trudeau decided to step down in January after polls indicated potential defeat for the Liberal Party in the upcoming election. However, the party’s prospects have since improved due to growing Canadian discontent with Trump and his policies.

In a parting statement, Trudeau expressed gratitude to Canada for the opportunity to serve as prime minister and for the challenges he faced during his tenure.

Carney, a former governor of the Bank of Canada and the Bank of England, won the Liberal Party leadership by a large margin on March 9. With a background in guiding governments through global crises, Carney aims to utilize his expertise as he transitions into the role of prime minister.

Having advised Trudeau on Canada’s economic recovery from the Covid-19 pandemic, Carney officially entered politics after the former prime minister announced his resignation in January. Notably, Carney will hold the position without prior parliamentary experience, distinguishing him from his competitors.

Among the appointees in Carney’s new cabinet is Chrystia Freeland, Canada’s former finance minister and Liberal Party leadership contender against Carney, who will now serve as transport minister. Their collaboration highlights a strategic approach to governance and policy-making under the new leadership.

Carney’s appointment marks a significant shift in Canadian politics, signaling a new era under his leadership and the potential for innovative solutions to current challenges facing the country. His background in finance and global economic management positions him to bring a fresh perspective to governance and policymaking, potentially reshaping Canada’s trajectory in the coming years.