As 2025 comes to a close, Canadian politics looks very different than it did a year ago. Prime Minister Mark Carney wraps up his first year in office leading a minority government. It was a year that saw Justin Trudeau step aside, a surprise election, and a tariff war. Conservative leader Pierre Poilievre lost his seat and now faces tough questions about his leadership. All of this has unfolded as Donald Trump’s second presidency continues to reshape Canada’s political and economic reality. To take stock of the year, and to look ahead to what 2026 might bring, we convene our year-end national affairs panel with Rosemary Barton, Ryan Tumilty, and Rob Shaw.