Canadian Finance Minister Dominic LeBlanc has announced that he will not run for the leadership of the Liberal Party, saying he needs to focus on addressing the economic challenges posed by U.S. tariffs under Donald Trump’s administration.
LeBlanc’s decision comes as the Liberal caucus gathers in Ottawa to discuss the process of replacing Prime Minister Justin Trudeau, who announced on Monday his plan to step down once the party selects a new leader.
“Serving Canadians is an immense privilege,” LeBlanc said in a statement posted on X. “At a moment when Canada is at a crucial juncture in its relationship with its most important ally and trading partner, the United States, I firmly believe that at this time, the best way for me to serve our country is to direct my full attention to my job.”
Please see my statement regarding the Liberal Party of Canada’s upcoming leadership race: pic.twitter.com/WaqciWRsrC
— Dominic LeBlanc (@DLeBlancNB) January 8, 2025
‘Tariff threats needs my full attention’
LeBlanc, who has served as a Member of Parliament for New Brunswick for over two decades, emphasized the seriousness of the tariff threat. Trump recently escalated his rhetoric, suggesting “economic force” could be used to pressure Canada.
“The threat these tariffs pose to our nation’s economic well-being and to the livelihood of a countless number of Canadian families cannot be understated,” LeBlanc said. “It requires nothing less than my full attention.”
LeBlanc, a key figure in Trudeau’s cabinet, became finance minister after Chrystia Freeland’s resignation in December.
While he was seen as a strong contender for the leadership, his close ties to the outgoing prime minister and his focus on combating tariffs likely influenced his decision.
“I intend to work with my cabinet colleagues, provincial premiers, business leaders, and union officials to make the case against the unjust use of tariffs by Trump,” he added.
LeBlanc confirmed he would continue to serve as a Liberal MP under the party’s new leader, though he won’t be part of the leadership race.
The race to replace Trudeau is expected to include several high-profile figures, including former Bank of Canada governor Mark Carney and cabinet ministers such as Francois-Philippe Champagne, Melanie Joly, and Jonathan Wilkinson.
Meanwhile, the Liberal caucus is also set to discuss whether cabinet ministers should resign their posts while seeking party leadership, alongside other rules for the upcoming contest. Parliament is currently suspended until March 24, with an election likely to follow soon after.
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