Trudeau considering quitting after Canadian Finmin Freeland unexpectedly resigns

Canada's CTV News reports that Prime Minister Justin Trudeau is considering interrupting Parliament (prorogation) or resignation according to unnamed sources. The sources say he has spoken to his cabinet and plans to address Parliament. This comes after finance minister Chrystia Freeland resigned earlier on Monday citing disagreements over how to deal with tariff threats from US president-elect Donald Trump, writes Zero Hedge.

If confirmed, it would mean government collapse in 4 of the staunchest, and most developed "non-banana republic" Western democracies: France, Germany, South Korea and now Canada. And, of course, we use the term "non-banana republic" sarcastically.

As for Turdeau, his odds of being Tru-done just spiked to 88% on Polymarket.

Odds Trudeau is out before April just hit 88%.

In a stunning move that shakes the government, Canadian Finance Minister Chrystia Freeland has resigned from Prime Minister Justin Trudeau’s cabinet after he tried to move her to a different role.

Freeland has been the most powerful person in Trudeau’s cabinet for years, and was the point person in strategizing how to counter US President-elect Donald Trump’s threat to impose 25% tariffs.

Trudeau has now seen the departure of two finance ministers in a little more than four years.

Freeland got the job in 2020 after the prime minister had a falling out with then-Finance Minister Bill Morneau over issues such as spending on Covid-related income support programs.

Freeland released her statement in a post, pulling no punches:

“…Our country today faces a grave challenge. The incoming 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. 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.”

Freeland's resignation follows that of Housing Minister Sean Fraser over the weekend, who notably doesn’t plan to run in the next federal election.

Perhaps Freeland and Fraser see the painful writing on the wall for their boss...

Turdeau’s government (sic) would have no choice but to respond if Trump simply exempted energy while hitting all other Canadian products, said Bloomberg sources, adding that’s a scenario that could prompt the use of export taxes by Canada.

But for the prime minister, going down this path would cause serious political divisions within Canada. Oil, uranium and potash production are concentrated in the western provinces of Alberta and Saskatchewan.

Those provinces are the strongest voter base for Conservative Leader Pierre Poilievre, and their provincial governments are staunch right-wing opponents of Trudeau.

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