Frontrunners include Chrystia Freeland and Mark Carney, who are making the case they can guide Canada through domestic and international issues. At the top of the list: mounting trade tensions with the United States.

Canada's ruling Liberal Party elected a new party leader Sunday who will serve as the nation's next prime minister, replacing outgoing premier Justin Trudeau. Why it matters: Liberal Party members' vote for Mark Carney comes as the Liberal Party is experiencing a polling boost amid widespread opposition to President Trump's policies targeting its northern neighbor.

The Liberal Party of Canada has chosen Mark Carney as its new leader and, as the party in power, will swear him in as the country’s new Prime Minister of Canada. The election came as a surprise and interests north and south of the border are curious to see how Carney responds to the escalating trade war with the U.