Carney comes from a long career in finance, which people believe will help him manage the growing economic tensions between the U.S. and Canada. Carney is expected to be sworn in sometime this week,

Justin Trudeau, who was first elected prime minister in November 2015, announced on Jan. 6 his intention to resign as Liberal Party leader and prime minister.

The 59-year-old political newcomer says he will keep tariffs on US imports "until the Americans show us respect".