Mr Carney – who headed up Britain’s central bank between 2013 and 2020 – will replace the 59-year-old after winning the Liberal Party leadership race.
Mr Carney is currently chairman of Canadian alternative investment firm Brookfield Asset Management.
In 2013, he became the first non-citizen to run the Bank of England since it was founded in 1694.
He also led efforts to support the UK economy through Brexit and the initial responses to the pandemic, although his successor Andrew Bailey took over in March 2020 as Covid-19 took hold.
Canada’s opposition Conservatives hoped to make the upcoming general election about Mr Trudeau, whose popularity declined as food and housing prices rose and immigration surged.
Some are cancelling trips south of the border and many are avoiding buying American goods when they can.
“Donald Trump, as we know, has put unjustified tariffs on what we build, on what we sell and how we make a living. He’s attacking Canadian families, workers and businesses and we cannot let him succeed and we won’t.”
Being introduced by his daughter Cleo after his win, Mr Carney said: “Who is ready to stand up for Canada with me?
“Yes Canada, the Liberal Party is united and strong and ready to fight to build an even better country.”
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