Carney, 59, a political novice, will take over at a tumultuous time in Canada, which is in the midst of a trade war with the United States.

Canada's Liberal Party has selected banking executive Mark Carney as its new leader, who will take over from Prime Minister Justin Trudeau and handle trade and tariff talks with President Donald Trump at least until Canada's next general election later this year.

As Trump's trade war looms over Canada, the ruling Liberal Party has chosen veteran economist Mark Carney to replace Justin Trudeau.