• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Canada’s Trudeau announces resignation following party pressure amid criticisms of Trump, budget handling

by January 6, 2025
written by January 6, 2025

Canadian Prime Minister Justin Trudeau announced on Monday that he intends to resign as party leader and prime minister after pressure from within his own Liberal Party increasingly grew amid heightened criticisms over his handling of the economy and threats levied by President-elect Donald Trump. He said he will resign once the party selects a new leader. 

I intend to resign as party leader, as Prime Minister, after the party selects its next leader through a robust nationwide competitive process,’ Trudeau told reporters. ‘Last night, I asked the president of the Liberal Party to begin that process. This country deserves a real choice in the next election, and it is become clear to me that if I’m having to fight internal battles, I cannot be the best option in that election.’

‘As you all know, I am fighter and I’m not someone who backs away from a fight. Particularly when the fight is as important as this one is. But I have always been driven by my love for Canada, by my desire to serve Canadians, and by what is in the best interests of Canadians and Canadians deserve a real choice in the next election,’ Trudeau added. ‘And it has become obvious to me with,, the internal battles that I cannot be the one to carry the liberal standard into the next election.’

Trudeau, who led the nation for nearly a decade, has been grappling for months with significant drops in his approval ratings over mounting frustration relating to issues like the soaring cost of living and rising inflation. 

Though there was no official path for his party to boot him from the top job, the now nearly-former prime minister faced either the threat of a Parliamentary vote of no confidence, or a lengthy fight to hold on to his position until the October 2025 elections – either option was expected to see a crushing end to Trudeau’s time in office.

The long-time prime minister saw an increase in calls for his resignation, with at least seven Liberal Members of Parliament as well as from opposition party leaders calling on him to set aside, following the abrupt departure of his finance minister, Chrystia Freeland, who wrote a scathing letter of resignation, citing criticisms over his handling of certain economic policies as well as the threats levied by Trump.

Freeland, once seen as Trudeau’s chief ally and who helped oversee the 2020 U.S.-Mexico-Canada deal during the last Trump administration, warned that how Canada responds to Trump’s November threat to slap a 25% tariff on Canadian imports ‘will define us for a generation, and perhaps longer.’

‘For the past number of weeks, you and I have found ourselves at odds about the best path forward for Canada,’ she wrote. ‘Our country today faces a grave challenge.’

 

‘The incoming administration in the United States is pursuing a policy of aggressive economic nationalism,’ she continued, urging the prime minister to show more backbone when it comes to standing up to Trump and his ‘coming tariff war.’

The comments made by Freeland sent shockwaves across the Canadian government, with many backing her calls to show strength in the face of the potentially tough economic times ahead. 

Trudeau, who appointed close friend Dominic LeBlanc to take over as finance minister, later held a special meeting with his caucus, during which, according to LeBlanc, he said that he ‘heard very clearly, and listened carefully to their concerns, and he would reflect on it.’

Trudeau’s resignation means the Liberal Party can appoint an interim prime minister to lead the country until the elections next fall, giving them potentially a fighting chance to bring renewed support back to the Liberal Party. 

It remains unclear who will likely take over Trudeau’s seat, but LeBlanc – who also met with Trump at his Mar-a-Lago residence earlier this month alongside the former prime minister – was reported to be a leading contender.

Trump has not yet pubically commented on Trudeau’s resignation and his transition team did not respond to previous Fox News Digital questions over his impact on Canadian politics. 

Related Topics

Canada
Justin Trudeau
Trump Transition

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
The fight over credit card swipe fees enters a new year with no end in sight
next post
In one of last speeches in office, Biden attempts to rehabilitate image of late segregationist Strom Thurmond

related articles

Hunter Biden seen driving Toyota rental in South...

May 31, 2025

Trump tariff plan faces uncertain future as court...

May 31, 2025

Musk confident DOGE will save $1 trillion as...

May 30, 2025

Who will be Elon’s successor? The top names...

May 30, 2025

Donald Trump fires National Portrait Gallery director for...

May 30, 2025

Elon Musk sports black eye at farewell presser...

May 30, 2025

Biden says he could ‘beat the hell out...

May 30, 2025

‘American hero’ or ‘failure’: Elon Musk’s DOGE departure...

May 30, 2025

Unfinished Business: The budget cuts Musk couldn’t complete...

May 30, 2025

Alleged attempt to impersonate White House chief of...

May 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump Media stock sinks to new post-merger low

    August 20, 2024
  • ‘Rot and decay’: Rep Hank Johnson argues SCOTUS term limits are path forward for removing ‘corrupt’ justices

    October 18, 2024
  • War-torn regions have keen interest in US elections

    October 30, 2024
  • Trump says minerals deal has been ‘pretty much’ negotiated with Zelenskyy, meeting slated for Friday

    February 26, 2025
  • Long FRA40: bounces from strong 7,000 Support, signals potential upward momentum ahead

    August 8, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • Solana and Cardano: Cardano continues bullish option

    July 11, 2024
  • Deficit Concerns: Currency Fluctuations and Yen’s Volatility

    August 21, 2024
  • Rubio breaks silence on leaked Signal chat: ‘Someone made a big mistake’

    March 26, 2025

Recent Posts

  • John Kirby denies US involvement in Lebanon device attacks: ‘We want to see the war end’

    September 19, 2024
  • Nifty continues to make new all-time highs on Monday

    July 30, 2024
  • Household savings are thinning. Here’s how to put money back in your pocket.

    July 22, 2024

Editor’s Pick

  • Grassley releases new details of Iran-backed assassination plots against Trump, Biden and others

    September 5, 2024
  • Service members who refused the COVID ‘jab’ would get their jobs back and back pay, too, under new GOP bill

    January 16, 2025
  • Top health official accuses RFK Jr’s agency of ‘censorship’

    April 17, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock