March 16, 2025
Carney Gets Down to Work as Canada Election Drumbeat Grows #CanadaFinance

Carney Gets Down to Work as Canada Election Drumbeat Grows #CanadaFinance

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(Bloomberg) — Mark Carney laid the groundwork to take over as Canada’s prime minister as soon as this week, appointing a chief of staff and promising a speedy transition to a new cabinet that he says will be focused on the economy and fighting back against US tariffs.

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One day after he received a resounding victory in a vote among Liberal Party members, Carney met with Prime Minister Justin Trudeau to discuss the trade war, national security and the handover of power. The transition to a new administration “will be seamless and it will be quick,” Carney said.

He also met with Liberal lawmakers. “We know this is a crucial time for our country. We’re united to serve Canadians and we will build this country,” he said. The prime minister-designate has tapped Marco Mendicino, a former Trudeau cabinet minister, as his chief of staff, according to a person familiar with the matter.

Carney, 59, the former governor of the Bank of Canada and Bank of England, won more than 85% of the vote in the Liberal Party leadership contest. He’ll announce a cabinet within days — and given the trade war with the US and the short timeline to the next election, he’s likely to keep some current ministers in place to ensure stability, according to people familiar with Carney’s thinking.

Carney hasn’t committed to a date for a general election, but has previously said he would seek a new mandate from Canadians quickly in order to deal with the ongoing tariff threats from US President Donald Trump. And he has momentum, with the Liberals narrowing the gap on the Conservative Party in recent polls.

If he triggers an election shortly before Parliament returns on March 24, that would mean a voting date in late April or early May.

An election period would create some difficulty in managing a response to further Trump tariffs. Trump has promised a wider set of tariffs to take effect on April 2. During that time, Parliament would be dissolved and the government would be in what’s known as caretaker mode, where it’s supposed to avoid major decisions.

But the caretaker convention still allows the government to respond to emergencies, said Lori Turnbull, a Dalhousie University professor who’s an expert in parliamentary governance.

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