Montreal [Canada], March 10 (ANI): Canada on Monday saw Mark Carney its new Prime Minister aswas elected as the new head of the governing Liberal Party, replacing Justin Trudeau in the midst of historic tensions and fears of a trade war with the United States, Al Jazeera reported.

Carney found himself amid a foray of tensions, fear of a trade war with the US and federal elections looming.

In a post on X, he said, 'Thank you. Now let's build a stronger Canada, together,' adding, 'We're strongest when we are united.'

https://x.com/MarkJCarney/status/1898923007227113574

https://x.com/MarkJCarney/status/1898878068313260241

'I will work day and night with one purpose, which is to build a stronger Canada for everyone,' Al Jazeera quoted Carney in his victory speech on Sunday evening after securing 85.9 per cent of the vote on the first ballot.

Carney also thanked his predecessor Trudeau for his work.

'Thank you, Prime Minister Trudeau. For your hard work, for your leadership, and for your great service to our country.'

https://x.com/MarkJCarney/status/1898907605226987777

The country has been roiled by US President Donald Trump's steep tariffs on Canadian products, which came into effect on March 4. Fears of a recession have fuelled a sense of Canadian nationalism and a desire for steady leadership in Ottawa, Al Jazeera reported.

Carney holds degrees from Harvard and Oxford universities and spent over a decade at the investment firm Goldman Sachs, and is a political novice. He also served as Trudeau's economic adviser, per Al Jazeera.

Carney has laid out broad promises since he launched his campaign, including reining in government spending, investing more in housing, diversifying Canada's trading partners and putting a temporary cap on immigration.

'I know how to manage crises. I know how to build strong economies,' he said during a debate against the other Liberal leadership hopefuls last month.

'I have a plan, a plan that puts more money back in your pockets, a plan that makes our companies more competitive, a plan that builds a strong economy that works for you,' Al Jazeera quoted him as saying.

Before leaving his office, Trudeau thanked his supporters 'for everything'.

https://x.com/JustinTrudeau/status/1898900374292959446

Trudeau resigned on January 6 as both- the Prime Minister and leader of the Liberal Party amid widespread anger over his government's handling of a housing crisis and rising costs of living. (ANI)