Liberal party leader Mark Carney was sworn in as Canada’s new prime minister on Friday amid a raging trade dispute with neighbouring United States triggered by President Donald Trump.

Carney (59) replaced Justin Trudeau, who announced his resignation in January and remained the caretaker prime minister until the Liberal Party elected a new leader.

The former head of the Bank of Canada and the Bank of England was officially sworn in during a ceremony in Ottawa on Friday. Francois-Philippe Champagne will be his finance minister as Dominic LeBlanc was shifted to manage international trade amid a raging tariff dispute with Trump. Melanie Joly will continue as foreign minister, and David McGuinty will remain the public safety minister.

Carey was chosen overwhelmingly by the Liberal Party as the prime minister without a single term at the House of Commons or Senate. The former banker is widely expected to trigger a general election in the coming days or weeks.

The opinion polls have indicated a slide in the popularity of the Conservative Party, led by Pierre Poilievre, which lost its early lead in recent weeks. The ruling party’s rebound was attributed to Trudeau’s resignation in January. Carey hopes to ride the momentum and secure a stable term amid threats of further tariffs and annexation from Donald Trump.

The US president has vowed to use “economic force” to make Canada a US state and has slapped steep tariffs, which drew immediate and proportional retaliation from Trudeau’s government. Economic uncertainty triggered by tariffs has hampered businesses and spending plans, Bloomberg reported.

(This is a developing story. Check back for updates)