Former central banker Mark Carney will become Canada’s next prime minister after a Liberal Party leadership vote in a landslide.

Mark Carney has been elected leader of Canada’s Liberal Party in a months-long, high stakes race to replace Justin Trudeau.

Prime Minister-designate Mark Carney, a Liberal who will replace Justin Trudeau on Friday, has said he plans to abolish a carbon pricing system that many residents have paid since 2019 on fossil fuel products, including gasoline, diesel and natural gas.

The Liberal Party of Canada has chosen Mark Carney as its new leader and, as the party in power, will swear him in as the country’s new Prime Minister of Canada. The election came as a surprise and interests north and south of the border are curious to see how Carney responds to the escalating trade war with the U.

Frontrunners include Chrystia Freeland and Mark Carney, who are making the case they can guide Canada through domestic and international issues. At the top of the list: mounting trade tensions with the United States.

Canada's ruling Liberal Party elected a new party leader Sunday who will serve as the nation's next prime minister, replacing outgoing premier Justin Trudeau. Why it matters: Liberal Party members' vote for Mark Carney comes as the Liberal Party is experiencing a polling boost amid widespread opposition to President Trump's policies targeting its northern neighbor.

Mark Carney, the former governor of the Bank of Canada, was overwhelmingly elected the leader of the Liberal Party and the Great White North's next prime minister on Sunday.

Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as President Trump’s administration threatens its economic future.