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."

"That transition will be seamless and it will be quick," Carney said after meeting Trudeau, who is stepping down after more than nine years in power.

Canada will have a new leader for the first time in a decade: Mark Carney will become the 24th Canadian prime minister after being elected leader of the country's Liberal Party on March 9. Carney will replace Prime Minister Justin Trudeau, who has led Canada since 2015.