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Dow Jones NewsApr 29, 2:46 AM UTC
DJ Canadians Elect Mark Carney's Liberals to Confront Trump -- 2nd Update
By Paul Vieira and Vipal Monga
Canadians were projected to keep the Liberal Party in power, entrusting Prime Minister Mark Carney to forge a new course for their struggling economy and stand up to President Trump.
Carney's Liberals were set to win a fourth term in national elections on Monday, Canadian broadcast networks said. It wasn't clear whether his Liberals would win a majority of seats or a smaller share that would require them to win support from other parties to govern, the broadcaster said. Carney, a 60-year-old former head of the Bank of Canada and the Bank of England, became prime minister after Justin Trudeau stepped down in January.
Carney's victory is a remarkable one for a Liberal Party headed for defeat at the start of this year. The Conservatives, led by Pierre Poilievre, had more than a 20-point lead in January, reflecting voter fatigue with a three-term Trudeau administration and anger over inflation and high housing costs.
Trudeau's resignation after a decade in power and Trump's return to the White House precipitated a reversal in fortunes for the Liberals under Carney, who said he was the best candidate to handle Trump and reshape an economy dependent on U.S. demand. Left-leaning politicians in Australia and the U.K., too, have benefited from appearing to best embody opposition to Trump's plans.
"What began as a campaign about change eventually morphed into a campaign about leadership," said Darrell Bricker, president of polling firm Ipsos.
Carney has said Canada needs to lower internal trade barriers and do more business with Europe and Asia after decades of ever-tightening economic and security cooperation with the U.S. He touted his experience leading the Bank of Canada during the financial crisis and the Bank of England after the U.K. voted to leave the European Union.
"Carney has the economic know-how to deal with a childlike Trump," Maria Longo, a mortgage broker from Montreal, said over the weekend ahead of the vote. "Trump is ruining the world."
Poilievre suffered for rhetoric too similar to Trump's, pollsters said. Abacus Data polling last week indicated that 46% of Canadians held a negative perception of Poilievre, the highest level since the start of the campaign.
Trump said in a social-media post Monday morning that Canada would be better off as the 51st state, a frequent refrain since he was elected that has stoked Canadian patriotism and galvanized voters.
Early results showed that the Conservatives had almost 40% of the popular vote, close to their share in the last federal election they won, in 2011. The Liberals had just over 50%, having benefited from a drop in support for smaller parties, notably the left-wing New Democratic Party and the nationalist Bloc Quebecois in Quebec.
Carney successfully distanced himself from Trudeau's inability to raise living standards or cut housing costs. He acknowledged the economy was weak before Trump started imposing tariffs and said Trudeau's team didn't focus enough on economic policy. Spending was too tilted toward government programs and administration and not enough toward increased investment in the country, said Carney, a former Goldman Sachs banker.
He has said that after the election he intends to use a combination of tax cuts and spending to reinvigorate an economy in dire need of a confidence boost. And Carney wants to start talks with the Trump administration on a new economic and security pact. Throughout the campaign, he warned that the U.S. is no longer a reliable trading and security partner.
"It may be that through comprehensive negotiations, we can restore some element of trust, but there will be no going back," Carney said in late March, after his first phone call with Trump.
Write to Paul Vieira at Paul.Vieira@wsj.com and Vipal Monga at vipal.monga@wsj.com
(END) Dow Jones Newswires
April 28, 2025 22:46 ET (02:46 GMT)
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