Mark Carney to be sworn in as Canadian prime minister, now must face Trump

Kitco Media
By Reuters
Published:
Updated:
Reuters
Mark Carney to be sworn in as Canadian prime minister, now must face Trump teaser image

OTTAWA, March 14 (Reuters) - Ex-central banker Mark Carney will be formally sworn in as prime minister of Canada on Friday, putting him in a position to fight tariffs from U.S. President Donald Trump that could devastate the trade-dependent Canadian economy.

In the presence of Governor General Mary Simon, the personal representative of King Charles, who is Canada's head of state, Carney will take the oath of office in a ceremony scheduled to start at 11 a.m. ET (1500 GMT).

The moment caps a momentous rise for the 59-year-old, who becomes the first Canadian prime minister without any serious political experience.

Carney plans to travel to London and Paris next week, said a diplomat aware of the plans. Canada has sought to shore up alliances in Europe as its relations with the United States sink to unprecedented lows.

Carney crushed his rivals on Sunday in a race to become leader of the ruling Liberal Party. He replaces Justin Trudeau, who spent more than nine years in office.

Carney, a former head of both the Bank of Canada and Bank of England, successfully argued his position as an outsider with a history of tackling crises meant he was the best person to take on Trump, who has repeatedly talked about annexing Canada.

On Wednesday, Carney told reporters that he was ready to meet Trump when "there is respect for Canadian sovereignty."

He also said he would keep in place retaliatory tariffs on U.S. goods until the United States showed Canada some respect.

Carney is due to name a cabinet that will likely not be in office for long, since Liberal insiders say he will call a snap election in the coming days. If he changes his mind, opposition parties say they will unite to bring down the minority Liberal government in a confidence vote at the end of March.

Once the election is called, Carney will be very limited in what he can do politically because convention dictates he cannot make major decisions when running for office.

Opinion polls currently suggest it will be a close race with the official opposition Conservatives, with neither party gaining enough seats for a majority government.

Reporting by David Ljunggren in Ottawa; Additional reporting by John Irish in La Malbaie; Editing by Nia Williams and Chizu Nomiyama

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.