TORONTO — On Sunday, Canadian Foreign Minister Mélanie Joly publicly expressed her support for former central banker Mark Carney as the next leader of the Liberal Party and potential new prime minister of Canada. Joly noted that she believes Carney is well-equipped to challenge Conservative leader Pierre Poilievre in the upcoming general elections and is particularly suited to confront the looming threat of significant tariffs that U.S. President-elect Donald Trump has suggested imposing on Canadian goods.
Carney is renowned for having skillfully navigated Canada through the severe financial turmoil of the 2008 crisis while he served as the governor of the Bank of Canada. Additionally, he played a key role in guiding the United Kingdom through the aftermath of Brexit during his seven years at the helm of the Bank of England.
“Mark offers an unmatched level of economic expertise,” Joly stated in a press release. “In times of uncertainty, leaders from various sectors have sought Mark’s counsel, whether it was during the financial crisis in 2008 or in the midst of Brexit.”
Joly’s endorsement arrives as former finance minister Chrystia Freeland launches her campaign to succeed Justin Trudeau, who will remain in his position until a new leader is selected on March 9. Currently, the leading candidates for the Liberal leadership are Carney and Freeland, whose unexpected resignation last month acted as a catalyst for Trudeau’s decision to step down.
While Joly was previously a contender for the leadership role, she opted not to campaign in order to assist the government in addressing Trump’s tariff threats. Her backing of Carney also provides him with increased support in Quebec, which is her home province.
Freeland’s resignation from Trudeau’s Cabinet took place on December 16, during which she criticized some of Trudeau’s economic policies amidst the challenges presented by Trump’s tariff threats. Her departure shocked the nation and fueled speculation regarding Trudeau’s dwindling popularity and viability as the party leader going forward.
The new leader of the Liberal Party may face the possibility of becoming the shortest-serving prime minister in Canada’s history, as all three opposition parties have pledged to attempt to topple the Liberal minority government in a no-confidence vote once Parliament reconvenes on March 24. A federal election could follow in the spring.
Trudeau announced his resignation on January 6 after experiencing a decline in support, both from within his party and across the nation.
This political turbulence emerges at a challenging time for Canada, given Trump’s remarks referring to Canada as the “51st state” and his threats to levy a 25% tariff on all products from the country.
According to reports, Trudeau had communicated to Freeland last month that he no longer wished for her to continue her role as finance minister, though he invited her to remain as deputy prime minister, overseeing U.S.-Canada relations. Freeland resigned soon thereafter, sharing a pointed letter about the government that ultimately sealed Trudeau’s fate.
