Carney, who will take over the leadership of both his party and his country, is expected to call a snap election shortly after being sworn into office.

Mark Carney is a newcomer to elected politics with decades of experience in finance. After his landslide victory, he pledged to continue tariffs on the U.S. "until the Americans show us respect."

Canada’s next prime minister has already helped run two Group of Seven economies in crisis and now will try to steer Canada through a looming trade war brought by U.S. President Donald Trump, a threat of annexation and an expected federal election.