Mark Carney has been elected leader of Canada’s Liberal Party in a months-long, high stakes race to replace Justin Trudeau.

Former central banker Mark Carney will become Canada’s next prime minister after the governing Liberal Party elected him its leader as the country deals with U.S.

Frontrunners include Chrystia Freeland and Mark Carney, who are making the case they can guide Canada through domestic and international issues. At the top of the list: mounting trade tensions with the United States.

Canada's Liberal Party will announce Prime Minister Justin Trudeau's successor on Sunday as both party chief and head of the country's government in the midst of a trade war with the United States that could cripple the Canadian economy.

Economist and former Governor of the Bank of England Mark Carney has been elected to succeed Justin Trudeau as Liberal Party leader and Canada’s prime minister. The election comes at a critical time in foreign relations between Canada and the United States,

The episode has not only given Trudeau a bump in support, but it’s delivered a potential lifeline to his flailing Liberal Party ahead of the expected election. It’s also a boon for his successor, Mark Carney, who was elected Liberal leader on Sunday and will soon take the prime minister’s office, at least briefly.

The Liberal Party of Canada will announce its new leader — and Canada's next prime minister — Sunday evening after a six-week sprint following Prime Minister Justin Trudeau's announcement that he plans to step down from his role once his successor is chosen.