Ottawa [Canada], December 16: In a dramatic turn of events, Chrystia Freeland, Canada’s Finance Minister and Deputy Prime Minister, announced her resignation just hours before delivering the 2024 Fall Economic Statement.
Freeland’s decision follows Canadian Prime Minister Justin Trudeau’s move to reassign her to a different Cabinet position, effectively ending her tenure as Finance Minister. In a letter shared on social media, Freeland expressed her gratitude for the opportunity to serve but emphasized that a minister must have the Prime Minister’s full confidence to be effective—a confidence she felt had waned.
Freeland’s letter highlighted her concerns over Canada’s economic strategy, particularly in light of what she termed the United States' “aggressive economic nationalism.” Warning about potential 25% tariffs from the U.S., Freeland stressed the need for Canada to adopt a prudent fiscal approach, resist costly political distractions, and unite as a country to address this looming threat.
“Our country faces a grave challenge... Canada will win if we are strong, smart, and united,” she wrote.
Freeland confirmed her intention to continue serving as a Liberal Member of Parliament and plans to run for re-election in Toronto in the next federal election.
Prime Minister Trudeau has not yet commented on her resignation, but the unexpected departure of such a key figure has intensified focus on Canada’s upcoming economic policies and the government’s future direction.
