Canada PM Justin Trudeau Is Likely To Resign This Week, Globe Says

Canadian Prime Minister Justin Trudeau is expected to announce his resignation as leader of the Liberal Party this week, the Globe and Mail reported, citing information from three people it didn’t name.

Trudeau has been under pressure from elected lawmakers in his party to quit for months — and it increased further when Chrystia Freeland, his finance minister, stepped down on Dec. 16, saying she and the prime minister were at odds on policy.

Liberal lawmakers are scheduled to hold a caucus meeting on Wednesday. Trudeau’s resignation would trigger a race for the party leadership, with the winner becoming prime minister.

After the split with Freeland, some of Trudeau’s closest advisers held the view that the prime minister couldn’t survive the political fallout, people familiar with the matter told Bloomberg News. More than 20 Liberal members of parliament have publicly called for Trudeau’s departure, and more have said in private meetings that the prime minister has no choice but to leave. The Liberals have 153 seats in the House of Commons, including Trudeau’s.

The Canadian currency strengthened as much as 0.4% to C$1.4388 per dollar after the reports, advancing for the first time in five sessions. The currency is trading near its weakest level since March 2020 and has lost more than 7% against the greenback in the past year.

The prime minister has largely disappeared from public view since Freeland posted her stinging resignation letter. Trudeau spent much of the holidays at a ski resort in western Canada and hasn’t spoken with reporters since returning to Ottawa.

The Globe story didn’t say that Trudeau has firmly made up his mind to resign.

A new survey by Nanos Research, taken in late December, has the Conservative Party extending a huge lead going into an election year.