On Monday, Chrystia Freeland, who served both as Canada’s Finance Minister and Deputy Prime Minister, resigned from Prime Minister Justin Trudeau’s cabinet.
Her departure comes at a critical juncture, with Canada facing economic challenges and the looming threat of U.S. trade policies under President-elect Donald J. Trump.
Freeland’s resignation was triggered by a policy disagreement with Trudeau, particularly regarding the government’s response to Trump’s “America First” economic nationalism, which includes threats of a 25 percent tariff on Canadian goods. In her resignation letter, Freeland accused Trudeau of engaging in “costly political gimmicks” rather than preparing for what she described as a “grave challenge” to Canada’s economy. She emphasized the necessity of keeping “fiscal powder dry” to navigate potential trade wars.
Public Safety Minister Dominic LeBlanc has been appointed as the new Finance Minister. LeBlanc has confirmed his commitment to addressing the cost-of-living challenges faced by Canadians, stating that fiscal responsibility will be at the forefront of his agenda.