Canada’s next leader is stepping into politics after a long career in finance, where he guided governments through global crises and economic turmoil. Now, Mark Carney is preparing to leverage that experience as he takes over from Prime Minister Justin Trudeau.

His unconventional background could prove advantageous as Canada faces economic tensions with its southern neighbor, particularly amid U.S. President Donald Trump’s trade war.

On Sunday, Carney was elected leader of Canada’s Liberal Party, setting the stage for his first-ever run for public office in this year’s federal election. Although long rumored to be a political contender, he had never officially entered the race until Trudeau’s resignation in January. Speaking to reporters on Monday, Carney assured that the transition from Trudeau’s leadership would be "seamless" and "quick," though he did not specify a date for assuming office.

The Liberals have pursued Carney for over a decade, even enlisting his advice during Canada’s post-COVID economic recovery. However, he now finds himself in the rare position of becoming prime minister without holding a parliamentary seat.

Born in Fort Smith, Northwest Territories, and raised in Edmonton, Alberta, Carney grew up in a family of teachers and played ice hockey as a goalie. His academic path took him to Harvard University for an economics degree, followed by a master’s and doctorate from Oxford University.

Carney’s professional journey spanned continents. He worked at Goldman Sachs for 13 years, with stints in London, Tokyo, New York, and Toronto, before joining the Bank of Canada in 2003. By 2008, he had become its governor, leading the country’s response to the global financial crisis and helping stabilize the economy. His performance earned him the top job at the Bank of England in 2013, making him the first non-British governor in its history.

Beyond finance, Carney is a vocal advocate for climate action. As the UN Special Envoy for Climate Action and Finance, he has pushed for net-zero investment policies. He has pledged to shift Canada’s carbon tax burden from consumers to large corporations, replacing individual fuel taxes with incentives for emission reduction.

Carney’s expertise in economics is seen as a key asset as Canada navigates its strained relationship with the U.S. and an escalating trade war. Since the U.S. imposed 25% tariffs on Canadian goods last month, Carney has called for dollar-for-dollar retaliation.

Speaking on Sunday after his election, he criticized Trump’s economic policies, stating, “He is attacking Canadian families, workers, and businesses. We won’t let him succeed. In trade, as in hockey, Canada will win.”