Former central banker Mark Carney secured the leadership of Canada's ruling Liberal Party and will succeed Justin Trudeau as prime minister, according to official results released on Sunday. 

Carney, 59, triumphed with 86% of the vote, defeating former Finance Minister Chrystia Freeland in a race with nearly 152,000 party members participating.

He will assume office during a challenging period for Canada, which is grappling with a trade conflict with the US under Donald Trump and facing an upcoming general election.

"There's someone who's trying to weaken our economy," Carney said of Trump, spurring loud boos at the party gathering. "He's attacking Canadian workers, families, and businesses. We can't let him succeed."

"This won’t be business as usual," Carney said. "We will have to do things that we haven’t imagined before, at speeds we didn’t think possible."

Tariffs on US to be kept

In January, Trudeau announced he would step down after more than nine years in office due to a sharp decline in his approval rating, prompting the ruling Liberal Party to hold a swift leadership contest to find his successor.

"Make no mistake, this is a nation-defining moment. Democracy is not a given. Freedom is not a given. Even Canada is not a given," Trudeau said.

Carney, a political outsider, claimed he was the most qualified to rejuvenate the party and manage trade talks with Trump, who is threatening further tariffs that could damage Canada's export-driven economy. 

In retaliation to Trump's tariffs on Canada, Trudeau has imposed C$30 billion worth of tariffs on the United States.

"My government will keep our tariffs on until the Americans show us respect," Carney said.

Carney's win marks the first time an outsider with no real political background has become Canadian prime minister.

He has said his experience as the first person to serve as the governor of two G7 central banks – Canada and England – meant he was the best candidate to deal with Trump.

The possibility of a fresh start for the Liberal Party under Carney, along with Trump's tariffs and his repeated threats to annex Canada as the 51st US state, sparked a remarkable revival in the party's fortunes.