Canadian PM to step down after new Liberal party leader named

Canadian Prime Minister Justin Trudeau announced on Monday that he will step down as leader of the ruling Liberals after nine years in office but will stay on in his post until the party chooses a replacement, Report informs via Reuters.

Trudeau, under heavy pressure from Liberal legislators to quit amid polls showing the party will be crushed at the next election, said at a news conference that parliament would be suspended until March 24.

That means Trudeau will still be prime minister on January 20 when US President-elect Donald Trump takes office. Trump has threatened to impose tariffs that would cripple Canada's economy.

"I intend to resign as party leader as prime minister after the party selects its next leader through a robust, nationwide competitive process," Trudeau said. "This country deserves a real choice in the next election, and it has become clear to me that if I'm having to fight internal battles, I cannot be the best option in that election."

Trudeau, 53, took office in November 2015 and won reelection twice, becoming one of Canada's longest-serving prime ministers.

But his popularity started dipping two years ago amid public anger over high prices and a housing shortage, and his fortunes never recovered.