Canada’s next leader is a relative political newcomer, coming instead from a decades-long career in finance where he steered governments through major global crises and periods of upheaval – experience he’s hoping to now leverage as he prepares to take over from Prime Minister Justin Trudeau.

OTTAWA—Mark Carney took over Friday as Canada’s prime minister, planting a former central banker known for navigating crises in the middle of a trade war with President Trump and likely kicking off a national election.

Mark Carney, soon to become Canada's new prime minister, is a two-time central banker and crisis fighter about to face his biggest challenge of all: steering Canada through Donald Trump's tariffs. The Liberals announced Carney as Justin Trudeau's successor on Sunday after party members voted in a nominating contest.