Mon Jan 06 22:42:06 IST 2025: ## Canadian Prime Minister Trudeau to Resign as Party Leader

**OTTAWA** – Canadian Prime Minister Justin Trudeau announced Monday he will resign as leader of the Liberal Party, though he will remain prime minister until a successor is chosen. This decision comes amid plummeting approval ratings and growing political instability. Trudeau cited internal party struggles and a need for a “reset” as reasons for his departure, stating that he believes he cannot effectively lead the party through the upcoming federal election, scheduled for late October.

The announcement triggered a slight increase in Canadian stocks and the Canadian dollar. The Prime Minister also announced that parliament will be prorogued until March 24th, when a confidence vote will be held. His resignation follows months of political turmoil, including the December resignation of Deputy Prime Minister Chrystia Freeland, who cited disagreements over the government’s response to potential US trade protectionism under the incoming Trump administration.

Trudeau’s approval ratings have fallen drastically to around 16-19%, the lowest since 2014, according to recent polls. The opposition Conservative Party currently holds a significant lead in the polls, further fueling speculation surrounding Trudeau’s future. The NDP leader, Jagmeet Singh, had previously called for Trudeau’s resignation and even proposed a motion to topple the government.

Trudeau’s departure leaves the Liberal Party with a short timeframe to select a new leader and prepare for the election. The economy, facing challenges such as high inflation, household debt, and unemployment, also played a role in the political climate leading to his resignation. The potential for increased trade tensions with the United States further complicated the situation.

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