Ex-central banker Mark Carney will be formally sworn in as prime minister of Canada on Friday, putting him in a position to fight tariffs from U.S. President Donald Trump that could devastate the trade-dependent Canadian economy.

Political analysts and Liberal Party members expect Carney to call a national election shortly after taking power, to take advantage of polling momentum that suggests the governing Liberals and the Conservative Party are in a statistical tie.

Mark Carney will be sworn in as prime minister today along with a new look cabinet that will simultaneously try to move on from the previous Liberal government while maintaining stability during an ongoing trade war with the United States.