Mark Carney to take oath on Friday as Canada’s new PM

Mark Carney, Canada’s newly elected prime minister, is scheduled to be sworn into office on Friday morning alongside his cabinet members.  

Carney, a former central banker, had pledged a smooth and swift transition as he steps in to replace Justin Trudeau, who announced his resignation in January after nearly a decade in office.

At 59, Carney, despite being a newcomer to politics, secured a decisive victory in the Liberal Party leadership race on Sunday, winning an overwhelming 86% of the more than 150,000 votes cast.

His jump into politics, after formerly heading the Bank of Canada and the Bank of England, comes at a time of trade tensions with the United States.

In his victory speech to supporters, Carney struck a defiant tone towards Washington, saying: “In trade as in hockey, Canada will win.”

Carney, on Wednesday, said he was ready to sit down with US President Donald Trump to negotiate a renewed trade accord in a bid to avoid further economic tussling.

A 25 percent levy on steel and aluminum imports into the United States took effect earlier.

Canada, in a swift response, hit back with retaliatory tariffs.