Mark Carney set to take office as Canadian prime minister

Mark Carney will be sworn in as Canada’s prime minister on Friday, marking a historic rise for the ex-central banker with no prior political experience.

Ex-central banker Mark Carney will be formally sworn in as prime minister of Canada on Friday, putting him in a position to fight tariffs from U.S. President Donald Trump that could devastate the trade-dependent Canadian economy.

In the presence of Governor General Mary Simon, the personal representative of King Charles, who is Canada's head of state, Carney will take the oath of office in a ceremony scheduled to start at 11 a.m. ET (15:00 GMT).

The moment caps a momentous rise for the 59-year-old, who becomes the first Canadian prime minister without any serious political experience.

Carney crushed his rivals on Sunday in a race to become leader of the ruling Liberal Party. He will replace Justin Trudeau, who spent more than nine years in office.

Carney, a former head of both the Bank of Canada and Bank of England, successfully argued his position as an outsider with a history of tackling crises meant he was the best person to take on Trump, who has talked about annexing Canada.

On Wednesday, Carney told reporters that he was ready to meet Trump when "there is respect for Canadian sovereignty."

He also said he would keep in place retaliatory tariffs on U.S. goods until the United States showed Canada some respect.

Carney is due to name a cabinet that will likely not be in office for long, since Liberal insiders say he will call a snap election in the coming days. If he changes his mind, opposition parties say they will unite to bring down the minority Liberal government in a confidence vote at the end of March.

Once the election is called, Carney will be very limited in what he can do politically because convention dictates he cannot make major decisions when running for office.

Opinion polls currently suggest it will be a close race with the official opposition Conservatives, with neither party gaining enough seats for a majority government.

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