Rishi Sunak and Liz Truss Will Compete to Replace Boris Johnson
“Hasta la vista, baby!” he said to lawmakers, borrowing a familiar farewell from Arnold Schwarzenegger, who also famously said, “I’ll be back.”

How successfully Mr. Sunak and Ms. Truss escape Mr. Johnson’s shadow may determine their success in the next six weeks of campaigning. That could pose a bigger challenge to Ms. Truss, who sat alongside Mr. Johnson in the House of Commons on Wednesday and has stayed in his cabinet when several others, including Mr. Sunak, quit.

Mr. Sunak will likely present himself as a responsible steward of the nation’s finances during a period of extreme stress, with surging inflation and the specter of recession. His victory caps a remarkable comeback from last spring when his political career appeared finished following the disclosure that his wife, Akshata Murty, the daughter of an Indian billionaire, did not pay taxes on all her income in Britain.

So far, analysts said, Mr. Sunak has conducted a smooth, disciplined campaign, refusing to be drawn out on policy details and giving journalists few openings to investigate him. Ms. Truss’ campaign has gotten off to a shakier start, though she has gained momentum. On Wednesday, after her victory, she posted on Twitter that she was ready “to hit the ground from day one,” forgetting to add “running.”

Ms. Truss will be viewed as the candidate of hard-line Brexiteers, pursuing aggressive negotiations with the European Union over trade in Northern Ireland. Critics say she undermined the talks with Brussels to pander to the Brexiteer wing of the party, and now risks triggering a trade war.

She will also likely play up her hard-power credentials as foreign secretary during the war in Ukraine. At a recent televised debate, Ms. Truss was the only candidate to say she would be willing to meet with President Vladimir V. Putin of Russia at a meeting of the Group of 20 industrial countries in November — positioning herself as an adversary who would get tough with the Russian leader for his aggressions.