Former central banker Mark Carney will become Canada’s next prime minister after a Liberal Party leadership vote in a landslide.

Canada's Liberal Party will announce Prime Minister Justin Trudeau's successor on Sunday as both party chief and head of the country's government in the midst of a trade war with the United States that could cripple the Canadian economy.

Mark Carney has been elected leader of Canada’s Liberal Party in a months-long, high stakes race to replace Justin Trudeau.