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."

Justin Trudeau, who was first elected prime minister in November 2015, announced on Jan. 6 his intention to resign as Liberal Party leader and prime minister.

Canada’s next prime minister Mark Carney has helped run two economies in crisis before and now will try to steer Canada through a looming trade war.