Finance Minister Chrystia Freeland resigns from Trudeau’s cabinet

Chrystia Freeland announced her resignation as Canada’s Deputy Prime Minister and Finance Minister on Monday, the latest and most considerable change in Justin Trudeau’s Liberal government.

Just hours before the fall economic statement was set to be introduced, Freeland announced that she would leave the cabinet immediately.

“On Friday, you told me you no longer want me to serve as your Finance Minister and offered me another position in the Cabinet. Upon reflection, I have concluded that the only honest and viable path is for me to resign from the Cabinet,” Freeland’s letter read.

“To be effective, a Minister must speak on behalf of the Prime Minister and with his full confidence. In making your decision, you made clear that I no longer credibly enjoy that confidence and possess the authority that comes with it. For the past number of weeks, you and I have found ourselves at odds about the best path forward for Canada. Our country today faces a grave challenge.”

The prime minister is set to hold a cabinet meeting this morning ahead of the release of his government’s fall economic statement later this afternoon.

Ontario Premier Doug Ford addressed Freeland’s stunning resignation, saying he did not speak with her over the weekend about her decision but added that “we all are concerned” about her stepping down.

“There’s nothing more important to the world and Canada than to project unity,” Ford said.

Trudeau’s Liberals have trailed behind Pierre Poilievre’s Conservative party for over a year as an affordability crisis grips the nation.

Freeland, Fraser big names to step down from Trudeau’s cabinet

Freeland’s announcement also follows news that Housing Minister Sean Fraser will not seek re-election. Fraser, a frequent target of Conservative attacks over the government’s handling of the immigration and housing files, was considered a strong communicator and rising star for the Liberals.

On Monday morning, Fraser said he came to this decision months ago while recovering from a back surgery operation and spending more time with his kids at home.

“My kids aren’t getting any younger, and they’re going to need their dad around,” he said.

Freeland said that Donald Trump’s administration in the United States is “pursuing a policy of aggressive economic nationalism, including a threat of 25 per cent tariffs.”

“We need to take that threat extremely seriously,” she wrote in her statement.

“That means keeping our fiscal powder dry today so we have the reserves we may need for a coming tariff war. That means eschewing costly political gimmicks, which we can ill afford and which make Canadians doubt that we recognize the gravity of the moment. That means pushing back against ‘America First’ economic nationalism with a determined effort to fight for capital and investment and the jobs they bring. That means working in good faith and humility with the Premiers of the provinces and territories of our great and diverse country and building a true Team Canada response.

“I know Canadians would recognize and respect such an approach. They know when we are working for them, and they equally know when we are focused on ourselves,” she continued.

She says she is committed to running again for her seat in the next federal election.

“I will always be grateful for the chance to have served in government, and I will always be proud of our government’s work for Canada and Canadians.”

Canada’s premiers are meeting in Toronto today, and cross-border trade is topping the agenda on the heels of a tariff threat from U.S. president-elect Trump.

First elected in 2015, Freeland held several key positions, including Minister of International Trade. She played a significant role in renegotiating NAFTA, resulting in the USMCA trade deal. Before entering politics, she was a journalist and author.

With files from The Canadian Press