Mark Carney was officially sworn in as Canada's 24th prime minister on March 14, 2025, succeeding Justin Trudeau. The ceremony took place at Rideau Hall in Ottawa, where Carney emphasized his commitment to addressing the nation's economic challenges, particularly the escalating trade tensions with the United States under President Donald Trump.
In his inaugural address, Carney expressed a willingness to collaborate with President Trump, stating, "We respect President Trump... we can find mutual solutions that win for both." However, he firmly dismissed any notions of U.S. annexation of Canada as "crazy."
Carney's immediate actions included restructuring the cabinet to better navigate the strained U.S.-Canada relations. François-Philippe Champagne was appointed as Finance Minister, while Mélanie Joly retained her position as Foreign Minister. Dominic LeBlanc transitioned to the role of International Trade Minister, reflecting the administration's focus on addressing trade disputes.
The new prime minister also acted swiftly to fulfill campaign promises by eliminating the consumer carbon tax, aiming to alleviate financial burdens on Canadians. This move underscores his commitment to stimulating economic growth amidst external pressures.
As Canada faces potential economic repercussions from U.S. tariffs, Carney's leadership will be pivotal in steering the nation through these challenges. His administration is expected to prioritize diversifying trade partnerships and strengthening national security to safeguard Canada's sovereignty and economic stability.