Canadian Prime Minister Justin Trudeau will announce he will resign as leader of the ruling Liberal Party on Monday, but will remain prime minister until a new leader is elected, a source close to the prime minister told CNN.
Trudeau is expected to make the announcement at a press conference scheduled for 10:45 a.m. on Monday, according to CNN.
Trudeau, leader of the Liberal Party for 11 years and prime minister for nine, was facing a series of mounting crises, from Donald Trump's tariff threats to the resignation of key allies and disastrous opinion polls.
His resignation will be seen as the prime minister choosing to jump before it's too late, ahead of a general election later this year, which he is widely expected to lose.
The Liberal Party's national executive, which controls leadership issues, is scheduled to meet this week, likely after the meeting.
The Trudeau government was rocked by the surprise resignation of Deputy Prime Minister and Finance Minister Chrystia Freeland, just hours before she was due to deliver the annual fiscal update.
In her resignation letter, she criticized Trudeau's "political manipulations," likely referring to a two-month sales tax holiday and a 250 Canadian dollar ($175) rebate for most workers.
Freeland said Canada could "take a hard time" with these policies, which are seen as a pre-election tool to attract some voters and come as the country faces the serious prospect of large tariffs that could be imposed by the incoming Trump administration.
Trump, set to return to the White House on January 20, has said he will sign an executive order imposing a 25% tariff on all products coming into the US from Canada.
Trump has also disparaged Trudeau and Canada on social media, referring to the prime minister as the "governor" of the "Great State of Canada."
Trudeau took the Liberals to power in 2015, promising “sunshine” for Canada. He championed progressive issues like combating climate change and addressing historical abuses against indigenous peoples, but in the final years of his leadership, economic discontent has been growing.
Trudeau was elected three times, most recently in 2021, when he remained in power but lost his governing majority.
Since then, Poilievre's Conservative Party has built a lead over the Liberal Party of more than 20% in national poll averages.
Poilievre has found supporters in Trump's base, including Elon Musk, the world's richest man and the head of X.
Late last year, Musk called Trudeau "an unbearable tool," adding that Trudeau "won't be in power for long."