Mark Carney was sworn in as Canada’s 24th prime minister on March 14, succeeding Justin Trudeau. A former governor of the Bank of Canada and the Bank of England, Carney steps into office at a crucial moment, as the country faces growing economic challenges and tensions with the United States.

In his first speech as prime minister, Carney emphasized the significance of unity and positivity, asserting that, “negativity won’t win a trade war,” and his commitment to a leaner, more action-oriented government. Carney has appointed a cabinet of 24 ministers—11 men and 13 women—notably smaller than Justin Trudeau’s 39-member cabinet, indicating that his administration intends to prioritize efficiency and focus on key issues.

“Canada’s new government will be action-oriented, driven by a smaller but highly experienced team made to meet the moment we are in,” Carney said in his first speech after being sworn in at Rideau Hall. “Our leaner cabinet will focus on two priorities in particular: first, protecting Canadian workers and their families in the face of unjustified foreign trade actions and second, growing this great country by putting more money in Canadians’ pockets.”

Among his most significant appointments, François-Philippe Champagne has taken over as finance minister. Previously serving as minister of foreign affairs, Champagne brings extensive experience in trade negotiations, which will be critical as Canada addresses the latest US tariffs. Another key appointment is Chrystia Freeland, who now serves as minister of transport and internal trade, overseeing sectors vital to the country’s economic stability.

Rachel Bendayan is the new minister of immigration, refugees, and citizenship, succeeding Marc Miller. Bendayan, who previously served as parliamentary secretary for small businesses, brings a legal background and experience in trade and economic policy.

As Carney begins his term, tensions with the US are increasing. The Trump administration has recently enacted a 25 per cent tariff on Canadian steel, aluminum, and various other exports, along with a 10 per cent tariff on crude oil imports. Furthermore, Trump has sparked controversy with remarks suggesting the potential annexation of Canada. In light of the worsening trade conflict, Carney has revealed his intention to diversify Canada’s economic partnerships.

His first international trip as prime minister will include stops in Paris and London, where he will meet with French President Emmanuel Macron and UK Prime Minister Keir Starmer.

“I received an invitation from the president of France to discuss a variety of issues, both economic and commercial, to reinforce those relationships, also issues related to security in Europe in Canada. Similar discussions will be had with the prime minister in the United Kingdom,” he said when asked about the trip to Europe.

Carney has also quickly enacted necessary policy adjustments to enhance Canada’s economic and defence stance. One of his first steps was to remove the consumer carbon tax effective immediately. Also, he has committed to raising defence expenditures to achieve NATO’s goal of two percent GDP by 2030, addressing military funding gaps and reinforcing Canada’s position in global security.

Immediately after Carney took office as prime minister, Conservative Leader Pierre Poilievre criticized Carney’s early policy decisions, arguing that they failed to address the pressing concerns of ordinary Canadians. He claimed Carney’s leadership is disconnected from the realities faced by working families, stating, “the new Prime Minister’s approach is out of touch with the realities faced by hardworking families across our nation.”

Poilievre also accused Carney of prioritizing foreign relations over domestic needs, insisting that, “Canadians deserve leadership that focuses on lowering taxes, reducing inflation, and making life more affordable.”