Overview

• The Liberal Party, led by Mark Carney, won 169 of 343 seats in the federal election, three short of a majority, necessitating a minority government.
• Carney, a first-time MP and former central bank governor, ran on a platform emphasizing Canadian sovereignty and economic resilience against U.S. tariffs and annexation rhetoric.
• Conservative leader Pierre Poilievre was defeated nationally and lost his parliamentary seat, while the Bloc Québécois and NDP suffered significant losses, prompting leadership changes.
• In his victory speech, Carney accused the U.S. of 'betrayal' and pledged to negotiate with President Trump as equal sovereign nations to address trade and security challenges.
• Carney and Trump have spoken by phone and agreed to meet in person, signaling a contentious but critical reset of Canada-U.S. relations.