Mark Carney, a central banker turned politician, steps into his role at a crucial moment as President Trump sets his sights on Canada’s sovereignty and keeps threatening more tariffs.

Former central bank chief Mark Carney was sworn in as Canada’s prime minister on Friday, taking over at what he has called “a time of great peril” as the country faces a trade war with the United States and annexation threats from President Trump.

To win the next election, the new prime minister must quickly prove he is Canada’s best hope of managing relations with the White House.