Mark Carney's strong position is attributed to his significant fundraising efforts, substantial backing from the Liberal hierarchy, and his experience as a former central banker, which has earned him widespread recognition and respect.

Mark Carney's leadership is expected to focus on navigating trade challenges with the U.S., leveraging his experience in international finance to counter U.S. tariffs and maintain strong economic relations. His background could help Canada negotiate on more equal terms with the U.S.

If Mark Carney becomes the Liberal leader without a seat in the House of Commons, he would likely initiate a by-election to secure a seat, ensuring democratic integrity and allowing him to participate fully in parliamentary proceedings.

An election could be called within weeks if Mark Carney becomes the new Liberal leader. Former Deputy Prime Minister Sheila Copps suggests that the new leader might call an election before March 24, when Parliament resumes.