Carney named new federal Liberal leader

Mark Carney has been elected as leader of the Liberal Party of Canada and will become the next Prime Minister of Canada.

Carney’s victory was certified Sunday evening, as the former Bank of Canada governor took 85 per cent of the vote among Liberals. His campaign was launched following Prime Minister Justin Trudeau’s announcement he would resign in early January. Trudeau said he would hold the position until the party chose a new leader.

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Carney has pledged to “immediately remove” the consumer carbon tax in his climate plan, though may not be as tough on the overall carbon tax as the Poilievre-led Conservative Party.

“When I see that some things that’s not working, I will change it,” said Carney in his acceptance speech Sunday evening, “so my government will immediately eliminate the divisive consumer carbon tax on families and farmers.”

Canadian farmers and agriculture group leaders have indicated the price on carbon as one of their primary concerns ahead of the 2025 federal election.

He also said he would stop the capital gains tax hike, another top issue for Canadian producers.

Stance on tariffs

Carney has also taken a hardline stance against U.S. tariffs, saying in a statement he would support dollar-for-dollar retaliatory tariffs and Canada. Diversifying its trade relationships with partners other than the U.S.

“There’s someone who’s trying to weaken our economy,” Carney said. “Yep. Donald Trump.”

“The Canadian the Canadian government has rightly retaliated and his rightly retaliated with our own tariffs that will have maximum impact in the United States and minimum impact here in Canada.”

“The government will keep our tariffs on until the Americans show us and until they can join us in making credible and reliable commitments to free and fair trade,” he continued.

Carney’s new tenure as Prime Minister will likely be short, as Canadians can expect a federal election called within the next few weeks.