Canada’s Prime Minister Mark Carney has appointed financier Mark Wiseman as the country’s new ambassador to the United States, just as crucial trade talks loom with the Trump administration.

Wiseman, a seasoned investment manager, will be tasked with mending strained relations between Canada and the US, and preparing for a potentially difficult review of the existing free trade agreement.

The appointment comes following Kirsten Hillman’s announcement that she would be stepping down from her role as ambassador to Washington. Carney stated that Wiseman “brings immense experience, extensive contacts and deep commitment” to the position, particularly vital during this “crucial time of transformation” for both nations.

“As a core member of our negotiating team, he will help advance the interests of Canadian workers, businesses, and institutions, while building opportunities for both Canada and the United States,” the Prime Minister said in a statement released on Monday.

Wiseman, 55, is expected to assume his duties in mid-February. He currently serves as a senior advisor and chairman of Canada at Lazard, a financial services firm, and also holds a senior advisory role at Boston Consulting Group.

His close relationship with Carney is well-known; the Prime Minister brought Wiseman onto his council on Canada-US relations back in March, a body established to navigate the increasingly complex bilateral relationship.

A Yale University alumnus, Wiseman also has a legal background, having practiced law in New York and Paris with Sullivan & Cromwell.

However, his involvement with the Century Initiative, a charitable organization advocating for increased immigration to Canada with a goal of reaching 100 million citizens by 2100, has drawn criticism. Conservative party leader Pierre Poilievre has been vocal in his opposition, accusing Wiseman of supporting policies that “inflate the cost of living, take away jobs and put pressure on our health care system”.

“Why does the Prime Minister want to appoint him as ambassador to Washington?” Poilievre questioned.

Adding to the complexity, Wiseman will be entering a challenging US-Canada dynamic. Trade talks were halted by former President Trump in late October following an advertisement opposing tariffs, commissioned by the province of Ontario and broadcast in the US.

Trump has already implemented sector-specific tariffs on Canadian metals, lumber, and automobiles. While a 35% tariff on all goods has been threatened, most products remain exempt under the Canada-United States-Mexico Agreement (CUSMA), known as the USMCA in the United States.

Currently, a scheduled review of CUSMA is underway, involving public hearings and consultations with stakeholders. This process will determine whether the agreement is renewed or allowed to expire, significantly impacting the future of trade between the three countries.

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