Former central bank chief Mark Carney was sworn in as Canada’s prime minister Friday, calling it “time of great consequence” as the country faces a trade war with the United States and annexation threats from President Donald Trump.

Mark Carney, an economist and political newcomer, has been sworn in as Canada's new prime minister and delivered a speech vowing to "never" become a part of the United States. He takes office on Friday just days after being elected leader of the governing Liberal Party and amid an ongoing trade war with US President Donald Trump.

Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. Carney is widely expected to trigger a general election in the coming days or weeks.