What Mark Carney’s Liberal leadership win means for Waterloo Region

What can we expect from the new Liberal leader amid rising trade tensions? As CTV's Spencer Turcotte tells us, local leaders are optimistic.

Mark Carney is now the new face of the Liberal Party and leaders in Waterloo Region are weighing in on the impact it will have on the fight to protect jobs and communities amid a Canada-U.S. trade war.

The mayors of Kitchener and Guelph told CTV News they welcome the leadership change and hope Carney can help guide municipalities through these tough times.

“Certainly, on behalf of the City of Kitchener, I want to congratulate our prime minister-designate,” said Kitchener Mayor Berry Vrbanovic, who has chatted with Carney on a couple of occasions.

Vrbanovic sees mayors as partners, and believes Carney can get cities closer to a long-talked about “new deal” on how federal dollars flow down.

“We can’t be tackling 21st century challenges with a 19th century legal and financial framework that is probably coming even more to the forefront now as we deal with tariffs and the new U.S.-Canada relationship,” Vrbanovic explained.

Tariffs are top of mind for the mayor given the Canadian Chamber of Commerce has identified the Region of Waterloo as among the most vulnerable communities due to the local focus on the auto and tech sectors.

Vrbanovic wants whoever is in power to be mindful of that too.

“We have two large Toyota plants in Cambridge and Woodstock. Many of the employees come from Kitchener and through Waterloo Region,” hew said. “We want to make sure that this area comes out of whatever the next little while is going to look like in a positive way and stronger.”

That is easier said than done with a federal election looming – one that is expected to be called soon.

The power could shift away from Carney if the election doesn’t go his way.

But Tony LaMantia, president and CEO of the Waterloo Economic Development Corporation, believes Carney brings real credentials to the role and could usher in some certainty to an already uncertain job market.

“I think he is uniquely qualified to understand what Waterloo Region’s challenges and opportunities are,” LaMantia told CTV News. “Make no mistake, there will be some sort of silver linings here as far as the future. So, I fully expect his leadership and, potentially his prime ministership either short-term or long-term, to help Waterloo Region.”

Not to mention, LaMantia likes the way U.S. markets have reacted to Carney’s win, which could be beneficial for local companies that do business there.

“He’s done really impressive work across the globe,” said LaMantia. “And he understands the importance of technology. He understands the importance of intellectual property, really gets advanced manufacturing and its role.”