Canadian Prime Minister Mark Carney’s Liberal Party has secured another term in office after a tightly contested federal election, though it fell short of winning a majority, forcing the government to rely on smaller parties to pass legislation.

With ballots still being counted, the Liberals were elected or leading in 164 of the 338 seats in the House of Commons—eight short of the 172 required for a majority. Conservative leader Pierre Poilievre’s party followed with 147 seats.

Poilievre conceded defeat late Monday and vowed to hold the Liberal minority government accountable, signaling a combative opposition in the new Parliament.

In his victory speech, Carney took aim at U.S. President Donald Trump, calling the current moment a “hinge point” in Canada-U.S. relations. “President Trump is trying to break us so that America can own us—that will never ever happen,” he declared to supporters.

Carney accused the United States of betraying its long-standing economic relationship with Canada, adding, “Our old model of integration with the U.S. is over.” He pledged to deepen ties with European and other global allies and confirmed he would soon meet with Trump “to discuss the future of two sovereign and independent nations.”

Political analyst Shachi Kurl, president of the Angus Reid Institute, said the Liberals’ comeback was driven by a combination of anti-Conservative sentiment, Trump’s aggressive tariff measures, and the resignation of former Prime Minister Justin Trudeau, which helped draw disillusioned progressive voters back into the Liberal fold.

The result marks a dramatic reversal of fortunes for Carney’s party, which had trailed by as much as 20 points in opinion polls earlier this year before Trudeau’s departure and growing tensions with Washington reshaped the political landscape.