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Justin Trudeau resigned as Prime Minister in January following intense pressure from his party members, many of whom believed he had not responded adequately to Donald Trump’s plans to impose a 25% import tariff on Canadian goods and services.

In his speech, Carney said he respects the United States and Donald Trump but expects the United States to respect Canada in return. He also called U.S. Secretary of State Marco Rubio’s claim that Canada would be economically better off as the 51st state of the United States "insane."

Carney announced that his first official trip abroad would be to France and the United Kingdom, but for now, he does not plan to meet with Trump. However, he stated that he looks forward to meeting him in the future.

Canada is approaching an election that must be held no later than October this year, and Carney will lead the Liberal Party throughout the campaign. He did not specify the election date but hinted that it would be soon.

Carney served as Governor of the Bank of Canada from 2008 to 2013 and as Governor of the Bank of England from 2013 to 2020. However, he is not a member of Parliament and has never held a political office before.