Liz Truss was announced Monday as the winner of the Conservative Party leadership election and thus the U.K.'s next prime minister, defeating former chancellor Rishi Sunak by a 57% to 43% margin.
Why it matters: In her current role as foreign secretary, Truss has made headlines for her hawkish approach to relations with the EU and the war in Ukraine. She's also vowed to slash taxes, despite the rocky state of the U.K.'s finances. She will be the third woman to serve as prime minister.
