Canada’s Liberal Party is set to elect a new leader on Sunday to replace Justin Trudeau as prime minister and tackle the challenges posed by U.S. President Donald Trump’s administration.

Trudeau, who led the Liberals since 2013 and became prime minister in 2015, announced his resignation in January following poor polling and internal dissent within the party. His departure sparked a leadership race, with the winner poised to take over as Canada’s new prime minister.

Four candidates are in the race: Mark Carney, Chrystia Freeland, Karina Gould, and Frank Baylis. However, only Carney and Freeland are seen as serious contenders for the role.

The Contenders:

Mark Carney:
Mark Carney, 59, is the frontrunner in the race. A former governor of the Bank of Canada and the first non-British governor of the Bank of England, Carney has gained widespread support, particularly from Liberal members and much of Trudeau’s cabinet. Known for his leadership during economic crises, Carney is seen as the best candidate to guide Canada through the looming economic challenges, particularly those related to the potential US-led trade war under President Trump.

Carney’s background in economics, including his pivotal role in steering Canada through the 2008 financial crisis, has made him a trusted figure. His leadership during economic turmoil in the UK further cemented his reputation. Polls show that Carney is viewed as the most capable to handle Canada’s economic relations with the U.S. and manage the threat of Trump’s tariffs. If he wins, he will become prime minister and may quickly call a snap election to secure a strong mandate.

Chrystia Freeland:
Chrystia Freeland, former deputy prime minister and finance minister under Trudeau, is another key contender. Freeland resigned as finance minister in December, following tensions with Trudeau, and issued a critical letter that ultimately contributed to his resignation. She remains a prominent figure in Canadian politics but is viewed as closely tied to Trudeau’s unpopular leadership.

Experts suggest that Freeland faces an uphill battle due to Carney’s popularity and her associations with Trudeau. Liberal backbenchers, in particular, view Carney as the more electable candidate, especially in light of Trump’s tariff threats. Despite this, Freeland’s experience and background in international relations and economics have earned her a strong following among certain segments of the party.

The Leadership Race:

The new leader will be selected by a secret vote among approximately 140,000 party members, with the result expected to be announced on Sunday. Once the new leader is chosen, the prime minister will likely face a decision about when to call the next federal election, which is currently scheduled for October. However, Carney, as a possible frontrunner, could call a snap election much sooner to capitalize on his political momentum.

With the economic challenges posed by U.S. trade policies and the uncertainty surrounding Canada’s future in international trade, the outcome of the leadership race could have significant implications for the country’s political direction.