Mark Carney set to replace Justin Trudeau as Canadian PM
What's the story
Mark Carney has won Canada's Liberal Party leadership contest and will take over from Justin Trudeau as the country's PM.
The 59-year-old won a whopping 85.9% of votes, defeating former Finance Minister Chrystia Freeland.
Nearly 152,000 party members participated in the election.
Trudeau had earlier announced his decision to step down after over nine years in power following a steep fall in his approval ratings.
Outsider triumph
Carney's victory marks a significant political shift
Carney's election as PM is a historic moment in Canadian politics: he is the first person with no political experience to hold the office. He earlier served as governor of two G7 central banks.
Carney's campaign included pushing for dollar-for-dollar retaliatory tariffs against the US and a coordinated strategy to boost investment.
He had also criticized Trudeau's economic growth record, saying it was insufficient for Canada.
Trade negotiations
Carney's stance on US-Canada trade relations
Carney's win is viewed as a new beginning for the Liberals, especially after US President Donald Trump's proposed tariffs that could hit Canada's export-driven economy.
In his victory speech, Carney cautioned against the possibility of American efforts to dominate Canada under Trump.
"The Americans want our resources, our water, our land, our country," he said. "Trump is attacking Canadian workers, families, and businesses. We cannot let him succeed."
Career highlights
Carney's extensive background in finance and banking
Prior to his political career, Carney had a successful career in finance and banking.
He spent 13 years at Goldman Sachs before joining the Bank of Canada as deputy governor in 2003.
After a stint at the finance ministry (2004-08), he returned as governor.
In 2013, he became the first non-British governor of the Bank of England in its three-century history and steered it through Brexit's political uncertainty.
Election impact
Carney expected to be sworn in in coming days
Carney is anticipated to be sworn in as PM in the next few days.
Carney, who would lead a minority government in parliament, may either call a snap election himself or force one through a no-confidence vote later this month.
At the start of the year, election surveys showed the Liberals trailing Pierre Poilievre's Conservatives by over 20 points.
They've now narrowed the gap, with some surveys showing them statistically tied with Poilievre's party.