Investing.com — Canadian Prime Minister Justin Trudeau is facing growing calls from members of his party for him to resign. The development comes ahead of a party meeting scheduled for this week. Trudeau is expected to make a statement in Ottawa, the country’s capital, on Monday at 10:45 a.m. local time.
Trudeau, who has been in power for almost ten years, reportedly spent the holidays thinking about his future. Some local reports suggest he may consider resigning before the party’s caucus meets on Wednesday. However, Trudeau spokespeople have yet to respond to requests for comment.
If Trudeau resigns, he would leave as one of Canada’s most unpopular political figures, potentially leaving his party in a weakened state and the country facing an uncertain economic future. This uncertainty is compounded by incoming US President Donald Trump’s promise to impose a 25% tariff on Canadian imports.
The prime minister’s political position has been fragile, particularly following voter backlash against progressive policies, economic decline, dissatisfaction with aggressive climate policies and growing resistance to immigration. Trudeau’s grip on power was further destabilized last month when the New Democratic Party, which supported his minority government, announced its withdrawal of support.
The announcement came shortly after the resignation of Finance Minister Chrystia Freeland, who left office over disagreements with Trudeau’s spending proposals. Freeland, who was also deputy prime minister, left the cabinet because she felt Trudeau was not taking adequate steps to prepare for a possible trade war with Washington.
Calls for Trudeau to resign have intensified within his party as the Liberal Party’s poll numbers have fallen. The public blames Trudeau for rising costs and housing shortages, which have been exacerbated by looser immigration policies.
Public opinion polls conducted in late 2024 and early this year show that Trudeau’s approval rating has fallen to around 20%, and that the Liberal Party is trailing the Conservatives by more than 20 percentage points.
“With Trudeau’s impending resignation, it appears that a Conservative-led government is closer to arriving in Canada, and we can now say with greater than 50% certainty that the Conservatives or a Conservative-led coalition will govern Canada in 2025,” said Thierry Wizman, Global FX & Rates Strategist at Macquarie.
“This achievement should help the DAC hold on; the CAD may well have already peaked – that is, sooner than it otherwise would have – on better structural growth prospects for Canada after the elections.”
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.
