The country's new leader is the only person to have led two major central banks. Those credentials could help in a tariffs standoff with his U.S. counterpart, but central bankers don't have a great record in politics.

The former central bank chief takes over at what he has called a “time of great consequence” for Canada, with Trump attacking its sovereignty and economic security.

Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. Carney is widely expected to trigger a general election in the coming days or weeks.