Carney meeting with Trudeau paves way for transfer of power in Canada

In his victory speech on Sunday, Carney warned the 'greatest crisis of our generation' came in the form of Canada's closest ally

- Leyland Cecco

Canada's incoming prime minister, Mark Carney, has met with Justin Trudeau to discuss a transfer of power after the former central banker's landslide victory in the Liberal party's leadership race.

The meeting yesterday set the stage for an imminent federal election and gives Canada a fresh leader to square off against the US president, with the two countries locked in a bitter trade war provoked by Donald Trump.

Briefly speaking to reporters, Carney said he was honoured to receive nearly 86% of the vote, one of the most decisive wins for a party leader in decades.

But the 59-year-old former banker said he had "a lot of wood to chop" as he prepared to take the reins of a country teetering on the verge of economy calamity.

Carney is widely expected to call an election within days, reflecting both the urgency of Canada's trade war with the US and the awkward reality that as a prime minister-designate without a seat in parliament, he is unable to attend sessions of Canada's House of Commons.