Canada PM Justin Trudeau.
Canadian Prime Minister Justin Trudeau announced his resignation as leader of the Liberal Party, marking the end of his nine-year tenure at the helm of the country.
The announcement, made during a press conference outside his residence at Rideau Cottage in Ottawa, comes in the wake of growing dissent within his party and declining public support.
“I have informed my party and the Governor that I intend to resign as leader of the party as well as Prime Minister of Canada, and will do so as soon as my successor is appointed,” Trudeau stated. To facilitate the transition, he prorogued Parliament until March 24, allowing the party up to 90 days to select a new leader, as mandated by Canada’s legislative framework.
Trudeau has faced mounting pressure from his party colleagues amid a surge in public support for the opposition Conservative Party, as shown in recent opinion polls. With federal elections scheduled later this year, Canada must establish a new government before October 20.
In the interim, Trudeau is expected to continue serving as Prime Minister until his successor is chosen - a process that could span several days to months. However, his leadership has come under heavy scrutiny, with critics pointing to both domestic and geopolitical challenges that have undermined Canada’s standing.
Trudeau’s tenure saw significant turmoil in recent months, including the loss of a key coalition ally that nearly led to a no-confidence vote in Parliament. Although his government narrowly survived with the support of smaller parties, tensions escalated further after his finance minister resigned in December, citing policy disagreements.
Canada’s economic performance under Trudeau has also been a point of contention, with issues such as high inflation, stagnant GDP growth, and faltering trade policies taking center stage. Additionally, the looming threat of massive tariffs from former U.S. President Donald Trump has exacerbated the country’s trade woes.
Trudeau’s resignation announcement had an immediate impact on the Canadian dollar, which saw an appreciation after months of decline.