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Who is Mark Carney, the crisis-handling former central bank governor turned Canada鈥檚 next leader?

Who is Mark Carney, the crisis-handling former central bank governor turned Canada鈥檚 next leader?
In trade as in hockey, Canada will win. Some American trade partners are cracking down on US exports. Starting today, American farmers face new retaliatory tariffs on many products they send to China. The measures include an extra 15% duty on chicken, wheat, corn, and cotton, and *** 10% 1 on items such as beef and soybeans. Some American. Farmers say they're worried escalating trade tensions could make it harder to sell their products abroad. Everything we produce far out sees what the domestic market could handle. Meanwhile, Canadian Prime Minister Justin Trudeau's newly elected successor is standing by Canada's retaliation against the US, and my government will keep our tariffs on until the Americans show us respect. President Donald Trump is. Down, he says some tariffs on Canadian and Mexican goods scheduled for April 2nd could go up. Commerce Secretary Howard Lutnick says duties on steel and aluminum imports are set to start Wednesday. Most mainstream economists say tariffs can be inflationary. Lutnick acknowledges some prices might rise in the US, but Trump says any pain would be short term. Are you expecting *** recession this year? Um I hate to predict things like that. There is *** period of transition because what we're doing is very big. We're bringing wealth back to America. I'm Amy Kiley reporting.
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Who is Mark Carney, the crisis-handling former central bank governor turned Canada鈥檚 next leader?
Canada鈥檚 next leader is a relative political newcomer, coming instead from a decades-long career in finance where he steered governments through major global crises and periods of upheaval 鈥� an experience he鈥檚 hoping to now leverage as he prepares to take over from Prime Minister Justin Trudeau.It鈥檚 an unorthodox background that could also potentially stand Mark Carney in good stead as Canada seeks to counter a looming economic confrontation with its giant southern neighbor, U.S. President Donald Trump鈥檚 trade war.Carney was elected Sunday to lead Canada鈥檚 Liberal Party into the next federal elections later this year. While he has never run for elected office before, rumors have swirled for years about if 鈥� and when 鈥� he might foray into politics.The Liberals have been courting Carney for more than a decade, and he advised Trudeau on Canada鈥檚 economic recovery from COVID-19. But the banker-turned-politician did not make his official entrance until Trudeau announced his resignation in January. All of his competitors were sitting politicians: Carney is in the unusual situation of becoming Canada鈥檚 prime minister without holding a seat in parliament.But before all that, he was born in Fort Smith, the Northwest Territories, and raised in Edmonton, Alberta. His parents were both teachers, and, true to his Canadian roots, he played ice hockey as a goalie growing up, according to his campaign website.He then headed to the United States for a degree in economics at Harvard University, before pursuing a master鈥檚 degree and doctorate in economics from Oxford University.Video below: Mark Carney addresses Trump, saying 'we cannot let him succeed'His career was similarly globe-trotting. He spent 13 years working for Goldman Sachs, traveling between the firm鈥檚 offices in London, Tokyo, New York and Toronto, according to a profile from the Bank of Canada, which he joined in 2003.By 2008, he was serving as governor of Canada鈥檚 central bank, stepping into the job as the world plunged into the Great Recession. During his campaign to lead the Liberal Party, Carney pointed to this time as evidence of his experience navigating crises, saying on his website he had helped protect jobs and stabilize the Canadian economy.He did well enough that by the time he finished his five-year term, he was scooped up by the Bank of England to be its governor 鈥� the first non-British person to hold the position. (Canada is a member of the British Commonwealth.)Climate change advocateThe following years were just as crisis-ridden, with the British public voting to depart the European Union. In speeches before the 2016 referendum, Carney had warned of the economic impact Brexit would have on the country. He left the Bank of England in 2020 after almost seven years in the job.After becoming the UN Special Envoy for Climate Action and Finance in 2019, he advocated for the financial sector to invest in net-zero emissions.鈥淲hen I became governor of the Bank of England, which oversees the insurance industry, I saw that the number of extreme weather events had tripled and the cost of those events had gone up five times in a quarter century,鈥� he said in an interview on the UN website. 鈥淭hese things really concentrated my mind on climate.鈥漇ince then, he has made clean energy, climate policies, and economic prosperity for Canada some of the central facets of his campaign, stressing that being low-carbon will help Canada become more competitive.He has proposed shifting the financial burden of the carbon tax from consumers to big corporations and has said that under his leadership, the tax Canadian consumers and small businesses pay on fuel would be replaced with incentives to reduce carbon emissions.Some experts believe Carney鈥檚 background could make him uniquely suited for the job as Canada grapples with a souring relationship with the U.S. and an escalating trade war.鈥淗e鈥檚 very competent in economics, so with these tariffs, this economic war, a lot of people are supporting him,鈥� said Charles-Etienne Beaudy, a political science professor at the University of Ottawa and author of 鈥淩adio Trump: How he won the first time.鈥漇ince the 25% U.S. tariffs on Canada were announced last month, Carney has been an outspoken proponent of dollar-for-dollar retaliatory tariffs.He addressed the issue on Sunday in his first remarks after the vote, slamming the Trump administration鈥檚 plans.Trump is 鈥渁ttacking Canadian families, workers and businesses, and we cannot let him succeed and we won鈥檛,鈥� he said. 鈥淚n trade as in hockey, Canada will win.鈥�

Canada鈥檚 next leader is a relative political newcomer, coming instead from a decades-long career in finance where he steered governments through major global crises and periods of upheaval 鈥� an experience he鈥檚 hoping to now leverage as he prepares to take over from Prime Minister Justin Trudeau.

It鈥檚 an unorthodox background that could also potentially stand Mark Carney in good stead as Canada seeks to counter a looming economic confrontation with its giant southern neighbor, U.S. President Donald Trump鈥檚 trade war.

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Carney was elected Sunday to lead Canada鈥檚 Liberal Party into the next federal elections later this year. While he has never run for elected office before, rumors have swirled for years about if 鈥� and when 鈥� he might foray into politics.

The Liberals have been courting Carney for more than a decade, and he advised Trudeau on Canada鈥檚 economic recovery from COVID-19. But the banker-turned-politician did not make his official entrance until Trudeau announced his resignation in January. All of his competitors were sitting politicians: Carney is in the unusual situation of becoming Canada鈥檚 prime minister without holding a seat in parliament.

But before all that, he was born in Fort Smith, the Northwest Territories, and raised in Edmonton, Alberta. His parents were both teachers, and, true to his Canadian roots, he played ice hockey as a goalie growing up, according to his

He then headed to the United States for a degree in economics at Harvard University, before pursuing a master鈥檚 degree and doctorate in economics from Oxford University.

Video below: Mark Carney addresses Trump, saying 'we cannot let him succeed'

His career was similarly globe-trotting. He spent 13 years working for Goldman Sachs, traveling between the firm鈥檚 offices in London, Tokyo, New York and Toronto, according to a profile from the Bank of Canada, which he joined in 2003.

By 2008, he as governor of Canada鈥檚 central bank, stepping into the job as the world plunged into the Great Recession. During his campaign to lead the Liberal Party, Carney pointed to this time as evidence of his experience navigating crises, saying he had helped protect jobs and stabilize the Canadian economy.

He did well enough that by the time he finished his five-year term, he was scooped up by the Bank of England to be its governor 鈥� the first non-British person to hold the position. (Canada is a member of the British Commonwealth.)

Climate change advocate

The following years were just as crisis-ridden, with the British public voting to depart the European Union. In before the 2016 referendum, Carney had warned of the economic impact Brexit would have on the country. He left the Bank of England in 2020 after almost seven years in the job.

After becoming the UN Special Envoy for Climate Action and Finance in 2019, he advocated for the financial sector to invest in net-zero emissions.

鈥淲hen I became governor of the Bank of England, which oversees the insurance industry, I saw that the number of extreme weather events had tripled and the cost of those events had gone up five times in a quarter century,鈥� he said in an interview on the 鈥淭hese things really concentrated my mind on climate.鈥�

Since then, he has made clean energy, climate policies, and economic prosperity for Canada some of the central facets of his campaign, stressing that being low-carbon will help Canada become more competitive.

He has proposed shifting the financial burden of the carbon tax from consumers to big corporations and has said that under his leadership, the tax Canadian consumers and small businesses pay on fuel would be replaced with incentives to reduce carbon emissions.

Some experts believe Carney鈥檚 background could make him uniquely suited for the job as Canada grapples with a souring relationship with the U.S. and an escalating trade war.

鈥淗e鈥檚 very competent in economics, so with these tariffs, this economic war, a lot of people are supporting him,鈥� said Charles-Etienne Beaudy, a political science professor at the University of Ottawa and author of 鈥淩adio Trump: How he won the first time.鈥�

Since the 25% U.S. tariffs on Canada were announced last month, Carney has been an outspoken proponent of dollar-for-dollar retaliatory tariffs.

He addressed the issue on Sunday in his first remarks after the vote, slamming the Trump administration鈥檚 plans.

Trump is 鈥渁ttacking Canadian families, workers and businesses, and we cannot let him succeed and we won鈥檛,鈥� he said. 鈥淚n trade as in hockey, Canada will win.鈥�