In a significant political development, Canadian Prime Minister Justin Trudeau announced his intention to step down as Liberal Party leader after nine years in power. The Liberal Party has set March 9 as the date to elect a new leader, a critical step ahead of the 2025 federal elections, where the party faces daunting challenges in the polls.

Trudeau, under pressure from within his party due to its weak pre-election standing, stated he would remain in his dual role as Prime Minister and party leader until his successor is chosen. "After a robust and secure nation-wide process, the Liberal Party of Canada will choose a new leader on March 9 and be ready to fight and win the 2025 election," the party affirmed in a statement.

The announcement followed a formal meeting of the Liberal Party's National Board of Directors, which outlined the initial rules for the upcoming leadership race. Parliament is set to be prorogued until March 24, signaling that an election is unlikely before May.

The Liberal Party’s political standing has been marred by widespread dissatisfaction among voters over rising living costs and a shortage of affordable housing. Recent polls suggest the opposition Conservative Party is poised for a significant victory in the next election, scheduled no later than October 20, 2025.

Adding to the complexity of the political landscape are tensions with the United States. Trudeau has strongly criticized U.S. President-elect Donald Trump’s proposed tariffs on Canadian imports, warning they would harm both nations. Trump’s controversial remarks about possibly annexing Canada have further strained relations.

"There is not a snowball’s chance in hell that Canada would become part of the United States," Trudeau declared in response. He also indicated that Canada is prepared to impose countermeasures if Trump's tariffs materialize, drawing on strategies used during previous trade disputes.

As the leadership race begins, the Liberal Party faces the dual challenge of addressing domestic economic grievances and navigating a volatile international trade environment, all while seeking to reinvigorate its electoral prospects.