Canada election results see Mark Carney's Liberals storm to fourth term in power

The people of Canada look set to hand the country's Liberal Party yet another term as the largest group in their parliament.

The result comes after US President Trump's tariffs and threats of annexation radically shifted the focus of the race and pushed Mark Carney's party into its second decade in power.

It was former banking bureaucrat Mark Carney's first time running for public office, but you wouldn't know it.

He easily won his Ontario seat of Nepean - with twice the tally of his Conservative opponent.

In the wider federal election, the Liberals emerged as clear leaders just hours after polls closed on Monday.

However, whether the resurgent governing party will be able to form a majority remains unclear, with both major parties appearing to push out smaller parties like the Greens.

The Liberals will need to secure at least 172 seats in Canada's parliament, or attempt to seek a coalition with other parties.

It has been a topsy turvy 12 months for this election's winners, trailing far behind the Conservatives while former PM Justin Trudeau remained in power.

However, after the Liberal leader stood down in March and Mark Carney took up the fight against the US' increasingly expansionist rhetoric, Canadians appear to have given the party another mandate to rule.

Carney's combative approach to their southern neighbour - where he responded robustly to President Trump calling Canada the US's 51st State - contrasted markedly with his Conservative opponent, in an election focusing on cost-of-living concerns and a looming trade war with their largest trading partner.

The Liberals have promised to invest tax revenues into diversifying the country away from its reliance on American trade, something the former Bank of England Governor will now have to deliver on.

Mark Carney's track record in global finance also proved to inspire confidence in voters, CTV has reported, with Canadians looking to the former banker to fight Trump's huge tariffs and the ongoing affordability crisis faced by ordinary people.

Early results indicate the Liberals are on around 161 seats, while the opposition Conservatives have gained 137.

However, exit polling suggests that Carney's party saw some of its projected lead narrow on voting day, with their route to a majority getting smaller.