Mark Carney set to become Canada's new prime minister after Justin Trudeau's resignation

Toronto — Canada's Liberal Party has chosen veteran central bank leader Mark Carney as its new leader, meaning he will quickly replace Prime Minister Justin Trudeau in the country's top office. The transition, and Trudeau's political downfall, comes amid the chaotic trade war with Canada's closest ally launched by President Trump.

The exact date that Carney will take office as Canada's prime minister remains uncertain. The timing of the transition will be determined by Carney in conjunction with Trudeau.

Carney won nearly 86% of the more than 151,000 votes cast. The next closest candidate received 11,144 votes.