Carney, a political novice, will take over at a tumultuous time in Canada, which is in the midst of a trade war with longtime ally the United States and must hold a general election soon.

Mark Carney has won the race to become the leader of Canada's ruling Liberal Party and will succeed Justin Trudeau as prime minister. Carney is a former banker.

Mark Carney, who comes from a long career in finance, won the Liberal Party’s election on Sunday. His first challenge will be managing growing tensions with the U.S.