In a significant political shift, Mark Carney is set to be sworn in as Canada’s 24th Prime Minister on Friday, March 15, 2025. This follows the resignation of Justin Trudeau, who announced his departure after over a decade of leadership. Carney, who recently secured a victory in the Liberal Party leadership race, will officially take the reins of the country in a ceremony at Rideau Hall, located in Ottawa. The Governor General Mary Simon’s office confirmed that the swearing-in will occur at 11 am EDT, where Carney will take the oath of office along with the members of his new cabinet.

Carney's Transition to Power

Mark Carney, a former Governor of the Bank of Canada and Bank of England, will officially begin his tenure as Prime Minister after the ceremony. Trudeau will visit the Governor General’s office on the same day to formally tender his resignation, making the transition official.

Carney’s transition has been smooth and swift, with the newly elected Liberal leader meeting with outgoing Prime Minister Trudeau to discuss the timing of the transition. Carney later stated that the process would be "seamless" and "quick", with his team already working on the bureaucratic and security aspects of the handover. In preparation for the new role, Carney has divested all his assets into a blind trust to avoid any conflicts of interest.

Carney’s New Ministry and Key Appointments

Once sworn in, Carney will present his new cabinet, which is expected to include several key figures who supported his leadership bid. Some of these individuals, who played a crucial role in managing US-Canada trade relations and dealing with US President Donald Trump's tariffs, are expected to hold prominent portfolios. Carney’s leadership will be tested at a time when polling shows the Conservatives and Liberals neck-and-neck, with Canadians increasingly concerned about the state of Canada-US relations.

Trudeau’s Legacy and Departure

In his final speech as Liberal leader, Justin Trudeau reflected on the achievements of the Liberal Party over the past decade, while also acknowledging that the country is entering a new chapter. He thanked his supporters and expressed optimism about the future of Canada under Carney’s leadership. Trudeau will officially step down as Prime Minister, but his favorability remains at a 12-month high, according to polling data, marking a positive end to his tenure despite the challenges he faced during his time in office.

With Carney now poised to lead, all eyes will be on the upcoming government policies, particularly regarding trade negotiations, climate change, and the Canadian economy, as well as managing the complex relationship with the United States.

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