Canadian Prime Minister Justin Trudeau announced his resignation on Monday, stating he will step down once the ruling Liberal Party selects a new leader.

This decision follows months of plummeting polls, internal party divisions, and escalating political challenges.

"I intend to resign as party leader, as prime minister, after the party selects its next leader," Trudeau said at a press briefing in Ottawa. Trudeau, who has served as prime minister since 2015, emphasized that the upcoming leadership race would be "a robust, nationwide competitive process."

Trudeau`s leadership has faced increasing scrutiny, particularly after his former finance minister and deputy prime minister, Chrystia Freeland, resigned unexpectedly in December. Freeland criticized Trudeau`s governance, accusing him of prioritizing populist measures over addressing Canada`s economic challenges, including impending trade tensions with the U.S.

Freeland’s resignation marked a turning point, exacerbating fractures within the Liberal Party. Trudeau’s minority government, previously supported by a partnership with the New Democratic Party (NDP), narrowly survived multiple non-confidence votes in 2024. However, the NDP has since vowed to withdraw its support, leaving Trudeau’s administration vulnerable.

Speculation about Trudeau’s successor has already begun. Potential contenders include Chrystia Freeland and Mark Carney, the former Bank of England governor and ex-Bank of Canada head. The leadership transition is expected to be expedited, with analysts suggesting a timeline of four to six months under normal circumstances. However, urgency is heightened due to the looming possibility of a snap election.

Trudeau’s announcement comes at a critical juncture, as Canada faces potential economic upheaval from incoming U.S. President Donald Trump’s trade policies. Trump has threatened to impose a 25% tariff on Canadian imports, a move Trudeau previously vowed to counter.

To manage the transition, Trudeau has obtained permission from Canada’s governor general to suspend parliamentary sessions until March 24. This move may allow the Liberals to regroup and elect a new leader while limiting the opposition’s ability to bring a non-confidence vote.

Justin Trudeau’s tenure has been marked by both triumphs and controversies. His progressive policies on climate change, immigration, and social justice initially garnered widespread support. However, mounting challenges, including economic concerns and internal party disputes, have eroded his popularity.

The coming months will determine whether the Liberal Party can rebuild under new leadership and maintain its relevance in Canadian politics. Meanwhile, Trudeau’s resignation signals the end of an era in Canada’s political landscape.