China responded to Carney's victory saying it was open to improving ties, while the United Kingdom congratulated him and the European Union chief said the bloc will work with him to "champion free and fair trade."

Following a campaign dominated by Trump's tariffs and annexation threats, Carney promised to chart "a new path forward" in a world "fundamentally changed" by a United States that is newly hostile to free trade.

"We are over the shock of the American betrayal, but we should never forget the lessons," said Carney, who led the central banks of Canada and Britain before entering politics earlier this year.

"We will win this trade war and build the strongest economy in the G7," he said.

Carney's Liberals secured control of Canada's parliament but may fall just short of a majority.

That will require making deals with smaller parties but still marks an extraordinary comeback for the Liberals, who earlier this year looked headed for an electoral wipeout.

Pierre Poilievre's Conservative Party had been on track to win the vote but Trump's attacks, combined with the departure of unpopular former prime minister Justin Trudeau, transformed the race.

Carney, who replaced Trudeau as prime minister just last month, convinced voters that his experience managing economic crises made him the ideal candidate to defy Trump.

Poilievre, whose party was on track to form a strong opposition, conceded defeat on Tuesday and promised to work with the Liberals to counter Trump.

"We will always put Canada first," Poilievre told supporters in Ottawa.

"Conservatives will work with the prime minister and all parties with the common goal of defending Canada's interests and getting a new trade deal that puts these tariffs behind us while protecting our sovereignty."

British leader Keir Starmer congratulated Carney, adding that the UK and Canada are "the closest of allies, partners and friends."

"Our partnership is based on shared history and values... and I look forward to strengthening our ties," Prime Minister Starmer said in a statement.

European Commission President Ursula von der Leyen also said she looked forward to working with Ottawa to "defend our shared democratic values, promote multilateralism, and champion free and fair trade."

China's foreign ministry said it was "willing to develop China-Canada relations on the basis of mutual respect, equality, and mutual benefit."

The two countries have had a rocky relationship in recent years, with Ottawa and Beijing currently embroiled in a trade spat over tech and agriculture exports.

- 'We are Canada' -

When the Liberal win was announced, cheers of joy erupted at the Ottawa venue where Liberal supporters watched the results.

"We've got somebody that can speak to Mr. Trump on his level," said Dorothy Goubault, 72.

"Mr. Trump is a businessperson. Mr. Carney is a businessperson, and I think they can both relate."

Liberal lawmaker and a member of Carney's cabinet, Steven Guilbeault, tied the outcome to Trump.

"The numerous attacks by President Trump on the Canadian economy, but not just the economy, on our sovereignty and our very identity, have really mobilized Canadians," he told the CBC.

He said Canadians saw Carney as "someone who has experience with the economy."

Carney led the Bank of Canada through the 2008-2009 financial crisis and headed the Bank of England through the turmoil surrounding the 2016 Brexit vote.

- Trudeau's departure -

Trudeau's departure was crucial to the Liberal win, which capped one of the most dramatic turnarounds in Canadian political history.

On January 6, the day Trudeau announced he would resign, the Conservatives led the Liberals by more than 20 points in most polls, as public anger over soaring costs mounted after Trudeau's decade in power.

Carney distanced himself from Trudeau throughout the campaign.

He said the former prime minister did not focus enough on growing Canada's economy and scrapped a controversial Trudeau carbon tax that left many voters seething.

For Poilievre, a 45-year-old who has been in parliament for two decades, the outcome marks a stinging defeat.

He was criticized for the at-times muted anger he directed towards Trump, but said he wanted to keep the focus on domestic concerns.

He tried to persuade voters that Carney would simply offer a continuation of the failed Liberal governance.

At the Conservative watch party in Ottawa, Jason Piche told AFP he was surprised by the result.

"I was hoping to have a big celebration tonight," Piche said.