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Mark Carney has been elected as the new leader of the Liberal Party of Canada, winning 85.9% of the vote in a decisive victory. He replaces Justin Trudeau, who announced his resignation earlier this year. Carney, a former governor of both the Bank of Canada and the Bank of England, enters the role with a strong focus on economic growth, national sovereignty, and trade relations, particularly in response to tariffs imposed by U.S. President Donald Trump. His leadership bid emphasized unity and stability, contrasting himself with Conservative leader Pierre Poilievre, whom he criticized for lacking economic expertise.

As Carney does not currently hold a seat in Parliament, it is widely expected that he will call a federal election within the coming weeks to secure both his position and a mandate for his policy agenda. This election will take place against the backdrop of Canada-U.S. trade tensions and heightened political divisions. Meanwhile, the Conservative Party has already launched aggressive pre-election campaigning, signaling what is likely to be a fiercely contested race.

Amid these political developments, NMMA remains committed to advocating for the removal of the federal luxury tax on recreational boats, which continues to harm the marine industry. Additionally, we will work to ensure that boats are excluded from any retaliatory tariffs in the ongoing U.S.-Canada trade dispute. As the political landscape evolves, NMMA will stay engaged with policymakers to protect the interests of our industry and members.