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Carney's Challenges Go Beyond Trade Rift With Trump
Posted
April 29, 2025
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April 29, 2025
1,151
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4:16Now PlayingCanada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war.
Carney’s party had about 43% of the national vote, but may fall short of the 172 seats needed for a majority in the House of Commons, meaning the government would be forced to work with other parties to pass budgets and other legislation. Under the tightest scenarios, the Bloc Quebecois, which runs candidates only in French-speaking Quebec, might hold the balance of power.
Addressing supporters in Ottawa in the early hours, Carney was ebullient, following the success of his remarkable swoop from the private sector straight to the apex of Canadian politics in about three and a half months.
But his speech also reflected the tricky reality that the novice politician may need to strike deals and compromise with rivals to deliver on the ambitious program he’s promised to Canadians.
David Dodge, former Governor of the Bank of Canada, examines the key hurdles facing Carney both domestically and in terms of relations with its most important trade partner, the United States. Mr. Dodge speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
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