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What does Mark Carney’s win mean for Canada?

The Liberal Party has staged an unexpected comeback. But with Trump back in the White House, Canada’s new prime minister may need more than economic credentials to hold the line.

By any conventional political metric, Mark Carney should not be Prime Minister of Canada. He is a latecomer to party politics, having only assumed leadership of the Liberal Party two months ago.

He has never held elected office. His resume reads less like a politician’s than a Davos name badge: former Governor of the Bank of Canada, then the Bank of England, and global finance whisperer to the world’s richest men. But here he is, having just pulled off an improbable fourth mandate against the odds.

The results are still trickling in, but the tone of Carney’s win is already clear. This was a vote not just for competence, but for a particular brand of resistance. Just six months ago, Canada’s Liberal party was in crisis, with a dozen backbench Liberal MPs calling for then Prime Minister Justin Trudeau to step down last October.

Trudeau’s refusal to resign left the future of the party in jeopardy, with no clear heir to its leadership and a nosedive in public popularity. Polls set a Conservative victory in the upcoming election at 99%.

But in the months since, Carney has emerged as an unlikely hero for Canada’s liberals. This is thanks in large part to the aggressions of Donald Trump, who has made repeated threats to Canada during his first 100 days in office.

Carney’s confident and relentless pushback against Trump’s bullying made him a firm favourite amongst Canadian voters.

Following his victory this week, Trump congratulated Carney, with reports stating that both leaders had ‘agreed on the importance of Canada and the United States working together – as independent, sovereign nations – for their mutual benefit.’

Canada must now defend its sovereignty not just from the usual tides of globalization, but from the gravitational pull of a hostile neighbour. And Carney has, crucially, failed to win a majority. The Liberals will still need to rely on other party’s support to pass any legislation, and face possible defeat in a vote of confidence within the chamber.

For Canadians, the stakes of this election felt more pressing than usual. The result sought to answer the question of whether Canada continues to stand as a distinct liberal democracy or folds, ever so subtly, into the shadow of Trump’s America. Canada has become ‘the front line of Trump’s economic warfare,’ with trade threats, tariff changes, and a rhetoric of annexation.

Carney’s campaign presented him as the adult in the room, a technocrat with backbone, and crucially, someone who could go toe-to-toe with Trump. In a media cycle increasingly dominated by spectacle, Carney’s promise of restoring Canadian confidence clearly struck a chord.

‘If there’s not a crisis, you wouldn’t be seeing me,’ he told supporters throughout the campaign. While Carney was referring to the external threats from Washington, the Guardian reporter Colin Horgan points out the ironic reality that the crisis was bubbling within the Liberal party itself – and it was this internal collapse that made way for Carney at all.

The new Prime Minister was seen celebrating with supporters following his win, but the future of his leadership will need to address more than just an aggressive White House. The cost of living and housing remain a prominent issue nationwide, alongside the pervasive threat of climate collapse, healthcare crisis, issues of public sector efficiency to name a few.

Carney must now contend with a Canadian public that is anxious, indebted, and increasingly skeptical of elite solutions to problems rooted in inequality.

But the country has undoubtedly chosen its antidote. A man who believes in markets, in climate data, in rules and institutions. Given the landscape of performative politics, that may not be electrifying – but in the shadow of Trump’s America? It feels quite revolutionary.

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