• 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

Inside Trump’s ultimatum that forced Netanyahu to the...

October 23, 2025

Vance rebukes Israel on ‘very stupid’ vote to...

October 23, 2025

Top Republican slams Katherine Clark for admitting suffering...

October 23, 2025

Vance calls Psaki comments about wife Usha ‘disgraceful’

October 23, 2025

Trump yet to endorse in VA governor’s race...

October 23, 2025

DAVID MARCUS: Trump’s ballroom is no vanity project,...

October 23, 2025

Examining the next threat from Communist China: Our...

October 23, 2025

Sparks fly as Cuomo, Mamdani tear into each...

October 23, 2025

Trump meets NATO’s Rutte amid canceled Putin meeting:...

October 22, 2025

Schumer blocks 12th GOP bid to reopen government...

October 22, 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

  • US warns Americans to flee Syria or prepare to ‘shelter in place for extended periods’

    December 16, 2024
  • Federal judge orders halt to Trump admin’s CFPB terminations

    April 18, 2025
  • USDCHF and USDJPY: USDCHF is testing September support

    September 30, 2024
  • Israel eyes Iran nuke sites amid reports Trump mulls moves to block Tehran atomic program

    December 13, 2024
  • President-elect Trump taps slew of administration picks days before inauguration

    January 17, 2025

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

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

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    December 4, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,503)
  • Investing (634)
  • Stock (941)

Latest Posts

  • UBS downgrades Tesla stock to Sell with $197 price target: Time to exit?

    July 12, 2024
  • EURUSD and GBPUSD: EURUSD continues to consolidate

    August 7, 2024
  • Ukraine accepts deal, says Rubio: ‘We’ll take this to the Russians’

    March 11, 2025

Recent Posts

  • Senate GOP eyes Medicaid sweetener to save Trump’s ‘big, beautiful bill’

    June 26, 2025
  • Abortion research group opposes state reporting requirements amid ‘weaponization’ by lawmakers

    March 14, 2025
  • After Trump threat, Hamas refuses to release more hostages without phase 2 ceasefire deal

    March 6, 2025

Editor’s Pick

  • Trump, Vance hit battleground states as they counter-program Harris, Walz at DNC

    August 20, 2024
  • Costco and Teamsters reach tentative contract agreement, avoid strike

    February 2, 2025
  • Trump picks Dr. Janette Nesheiwat as nation’s next surgeon general

    November 23, 2024
  • 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