Mark Carney has emerged victorious in the race to become Canada’s next prime minister, pledging to overcome the trade challenges posed by US President Donald Trump as he steps into leadership during a period of political uncertainty.

The former governor of the Bank of Canada and the Bank of England secured a decisive victory in the Liberal Party’s leadership race, defeating three other contenders by a wide margin.

Throughout his victory speech, Carney, 59, criticized Trump, who had imposed tariffs on Canada and made remarks about wanting the country to become the 51st state of the United States. “Americans should take note,” Carney said. “In trade, as in hockey, Canada will come out on top.”

Carney is set to be officially sworn in as prime minister in the coming days and will lead the Liberal Party into the next general election, which is expected to be called soon. Though Carney has never held an elected position before, he now stands as the prime minister-designate.

The leadership contest began in January after Justin Trudeau resigned from office following nearly a decade of leadership. Trudeau had faced mounting internal pressure due to widespread dissatisfaction with his handling of the housing crisis and the rising cost of living.

Carney won the leadership on the first ballot, securing 85.9% of the vote, decisively defeating his closest rival, former Finance Minister Chrystia Freeland.

Celebratory cheers filled the air as the results were announced to a crowd of approximately 1,600 party supporters in Ottawa, the nation’s capital.

As leader of a minority government, Carney now faces the possibility of calling a snap general election, or the opposition parties may push for one through a no-confidence vote in the coming weeks.

The Liberal Party has experienced a dramatic political shift following Trudeau’s departure, with many Canadians rallying behind the party due to concerns over Trump’s trade threats and comments about annexation.

At the start of the year, the Liberals trailed the Conservatives, led by Pierre Poilievre, by over 20 points in the polls. However, recent surveys show the two parties now in a statistical tie.