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Home Politics & Policy

Canada’s New PM Carney Vows to Beat Trump in the Trade War After Election Win

Seun Okewoye by Seun Okewoye
May 1, 2025
Reading Time: 3 mins read
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Canada’s New PM Carney Vows to Beat Trump in the Trade War After Election Win

Canada’s Prime Minister and Liberal Party leader Mark Carney waves to supporters at a victory party in Ottawa, Ontario on April 29, 2025. (Photo by Dave Chan / AFP)

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Prime Minister Mark Carney, leader of Canada’s Liberal Party, vowed to outmaneuver the United States in the escalating trade war instigated by President Donald Trump, following a stunning election victory on April 29, 2025, that extended his party’s grip on power.

In a campaign dominated by Trump’s punitive tariffs and provocative annexation threats, Carney outlined a “new vision” for Canada in a world reshaped by America’s retreat from free trade principles.

“We’ve overcome the shock of America’s betrayal, but its lessons must guide us,” declared Carney, a former governor of the Bank of Canada and Bank of England, who entered politics earlier this year.

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“We will triumph in this trade war and build the G7’s most robust economy,” Carney proclaimed to a roaring crowd.

The Liberals clinched control of Canada’s parliament, though projections suggest they may fall just short of an absolute majority, necessitating coalitions with smaller parties. This victory marks a dramatic resurgence for the Liberals, who faced near-certain defeat at the year’s start.

Pierre Poilievre’s Conservative Party appeared poised for victory until Trump’s aggressive rhetoric and the resignation of former Prime Minister Justin Trudeau shifted the electoral landscape.

Carney, who succeeded Trudeau as prime minister only last month, capitalized on his track record of managing economic crises to position himself as the ideal leader to confront Trump’s challenges.

Poilievre, unable to claim the premiership, conceded defeat but pledged to lead a formidable opposition, committing to work with the Liberals to counter Trump’s policies.

“Canada comes first,” Poilievre told supporters in Ottawa. “Conservatives will partner with the prime minister and all parties to defend our interests, secure a trade deal to end these tariffs, and protect our sovereignty.”

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‘We Are Canada’

The Liberal victory announcement ignited jubilant cheers at the Ottawa venue hosting supporters.

“I’m thrilled we have a leader who can match Trump’s intensity,” said Dorothy Goubault, 72. “Trump’s a businessman, and so is Carney—they’ll understand each other.”

Prior to his resignation, Trudeau endured Trump’s taunts, with the U.S. president labeling him “governor” and suggesting Canada become America’s 51st state. Goubault believes Carney’s leadership will end such provocations.

“No more ‘governor’—he’s Canada’s prime minister. And we’re not the 51st state. We are Canada!” she exclaimed.

Liberal cabinet member Steven Guilbeault attributed the win to Trump’s attacks. “His assaults on our economy, sovereignty, and identity rallied Canadians. They saw Carney’s global and economic expertise as the answer,” he told CBC.

Carney previously guided the Bank of Canada through the 2008-2009 financial crisis and the Bank of England during the 2016 Brexit turmoil.

Trudeau’s Departure Fuels Turnaround

Trudeau’s exit was instrumental in the Liberals’ resurgence, capping one of Canada’s most remarkable political comebacks. On January 6, when Trudeau announced his resignation, polls showed Conservatives leading by over 20 points, driven by public frustration over rising costs after Trudeau’s decade in office.

Carney distanced himself from Trudeau’s legacy, criticizing his economic priorities and repealing a contentious carbon tax that had alienated voters.

For Poilievre, a 45-year-old parliamentary veteran, the defeat was a bitter setback.

Poilievre faced scrutiny for his tempered response to Trump, focusing instead on domestic issues. His claim that Carney would perpetuate failed Liberal policies failed to persuade voters.

At the Conservative gathering in Ottawa, supporter Jason Piche voiced disappointment. “I was hoping for a big win tonight,”

Tags: 2025 electionsCanada politicsCanadian economyDonald TrumpJustin TrudeauLiberal PartyMark CarneyPierre Poilievretrade warUS-Canada Relations
Seun Okewoye

Seun Okewoye

Seun is a website developer, a financial market analyst, trader and fund manager

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