Mark Carney
Reuters/POOL

Canada's federal election on 28 April 2025 delivered a stunning victory for Mark Carney and the Liberal Party, defying all odds in a race reshaped by U.S. President Donald Trump's aggressive trade policies.

Once teetering on the edge of defeat, the Liberals, led by the former central banker, capitalised on national pride to secure a historic fourth term. Here's how Carney, a political novice, turned the tide and what his leadership means for Canada's future.

Seize Canada's Economic Rebound

Mark Carney, a 60-year-old economist born in Fort Smith, Northwest Territories, emerged as the Liberals' saviour after Justin Trudeau's resignation on 16 January 2025.

With a resume boasting governorships at the Bank of Canada (2008–2013) and the Bank of England (2013–2020), Carney navigated global crises like the 2008 financial meltdown and Brexit. His economic acumen proved vital as Trump's 25% tariffs on Canadian goods, announced in early 2025, threatened a recession.

Carney's campaign framed him as the steady hand to counter Trump, promising to protect Canada's £1.5 trillion ($2 trillion) economy. Polls, which once showed the Liberals trailing Pierre Poilievre's Conservatives by 20 points, flipped as Carney's message resonated, with the Liberals clinching 42.8% national support by election day, per CBC's poll aggregator.

Defy Trump's Sovereignty Threats

Trump's provocative rhetoric, including calls to make Canada the '51st U.S. state,' ignited a patriotic surge that Carney harnessed.

His campaign, centred on defending Canada's sovereignty, struck a chord with voters like Kathryn Sheridan, a 56-year-old geologist who told the Washington Post, 'To fight for democracy, it's necessary to vote for Carney.'

The Liberals' lead in Quebec, bolstered by a collapsing Bloc Québécois, underscored this unity.

Carney's decision to scrap Trudeau's controversial carbon tax, despite his prior support as a UN climate envoy, neutralised Conservative attacks and appealed to centrists. Meanwhile, Poilievre's 'Canada First' slogan drew unflattering Trump comparisons, costing him votes as his lead evaporated to 38.8%.

Lead with Global Expertise

Conservative Leader Pierre Poilievre and Canadian Prime Minister and Liberal Party chief Mark Carney shake hands following an election debate in Montreal on April 17
AFP News

Carney's international stature sets him apart. Educated at Harvard and Oxford, he advised Trudeau during the COVID-19 pandemic and chaired the Liberal Party's economic growth taskforce in 2024.

His experience at Goldman Sachs and Brookfield Asset Management, though scrutinised for potential conflicts, underscored his financial expertise. The BBC noted Carney's promise to diversify trade away from the U.S., with plans to boost clean energy and pipelines.

While results remain too close to confirm a majority government, Carney's leadership has already reshaped Canada's political landscape, drawing left-leaning voters from the NDP and Bloc Québécois into a Liberal coalition. His first test will be negotiating with Trump, whose tariffs could cost Canadian households £750 ($1,000) annually.

Carney Ignites Canada's Comeback

Mark Carney's meteoric ascent from central banker to Canada's prime minister on 28 April 2025 is a defining chapter in the nation's history. A political outsider, he galvanised a divided country, stitching together a coalition of urban progressives, rural voters, and disillusioned centrists wary of U.S. President Donald Trump's economic aggression.

His campaign, anchored in defending Canada's sovereignty against Trump's 25% tariffs and provocative '51st state' rhetoric, sparked a patriotic fervour unseen in decades.

Now, as he confronts a looming trade war that could cost households £750 ($1,000) annually and domestic crises like housing affordability, Carney's global expertise offers a lifeline.

Canada's torchbearer has ignited a bold path forward, but sustaining this momentum demands deft navigation of turbulent times. The nation watches, hopeful yet expectant, as Carney strives to keep the flame alight.