CNN — Prime Minister Justin Trudeau announced his resignation on Monday, saying he intends to step down from the top job and as the leader of Canada’s ruling Liberal Party once a new party leader is chosen. “I intend to resign as party leader, as prime minister, after the party selects its new leader,” the 53-year-old leader told reporters at a news conference in Ottawa on Monday. Canada’s parliament will be suspended until March 24 while a new Liberal Party leader is chosen, he also said. Trudeau added that he has “one regret” – failing to reform Canada’s election process, ahead of a general election expected this fall.I have one regret, particularly as we approach this election — well, probably many regrets that I will think of,” the outgoing leader said. “But I do wish we’d been able to change the way we elect our governments in this country so that people could simply choose a second choice, or a third choice on the same ballot.” How did we get here? Trudeau, leader of the Liberal Party for 11 years and prime minister for nine, was facing a mounting set of crises, from Donald Trump’s tariff threats to the resignation of key allies and disastrous opinion polls. His resignation could be seen as choosing to jump before he is pushed, ahead of a general election to be held later this year that he is widely expected to lose. World World / Americas Canadian Prime Minister Justin Trudeau has announced his resignation. What happens now? By Paula Newton, Hanna Park, Christian Edwards and Eve Brennan, CNN 5 minute read Updated 10:33 PM EST, Mon January 6, 2025 Canadian PM Justin Trudeau resigns as party leader 01:51 - Source: CNN still_21264682_17458.307_still.jpg Canadian PM Justin Trudeau resigns as party leader 01:51 kupchan.jpg A ‘G-Zero’ world is the biggest geo-political risk this year, according to report 04:30 Screenshot 2025-01-05 at 7.43.06 PM.png Ukraine says Russia just lost a battalion. Retired US colonel explains what impact that may have 03:02 still_21254231_127272.151_still.jpg ISIS has made a comeback. Nic Robertson explains what’s changed 03:13 Volunteers from the Syrian Civil Defense, the volunteer organization also known as the White Helmets, inspect the site of a suspected Assad regime chemical laboratory inside a State Security facility in Damascus, Syria. Syrian hazmat team shows CNN inside of what appears to be a former chemical lab 05:18 2.jpg Palestinian doctor in regular contact with CNN is now detained by Israeli military 01:29 split thumb steal and mike.jpg 'Stop the steal': Why protesters gathered against arrest of impeached South Korean president 01:24 Seongyung thumb option 3.jpg ‘Where do you think I should do it?’: 16-year-old girl contemplates plastic surgery for K-pop dream 02:53 space object.jpg 'Space object' crashes into remote Kenyan village 00:41 NOTRE DAME THUMBNAIL 1.jpg See choir perform ‘Silent Night’ in restored Notre Dame cathedral 03:28 Efforts are made to lift the wreckage of an aircraft lying on the ground after it went off the runway and crashed at Muan International Airport, in Muan, South Korea, on December 29, 2024. What we know about South Korea plane crash 02:07 20241229-quest_crash.jpg What videos of the Jeju Air jet tell Richard Quest about the crash 02:07 still_21239996_15029.302_still.jpg Video shows Jeju Air plane on South Korea runway before it bursts into flames 01:24 china warship thumb.jpg See China’s new cutting-edge warship 00:32 Inside Alabuga THUMB2.jpg The secretive factory fueling Moscow's drone war in Ukraine 04:38 still_21235093_7222087.649_still.jpg CNN analyst breaks down possible motive behind Putin's apology 01:19 See More Videos CNN — Prime Minister Justin Trudeau announced his resignation on Monday, saying he intends to step down from the top job and as the leader of Canada’s ruling Liberal Party once a new party leader is chosen. “I intend to resign as party leader, as prime minister, after the party selects its new leader,” the 53-year-old leader told reporters at a news conference in Ottawa on Monday. Canada’s parliament will be suspended until March 24 while a new Liberal Party leader is chosen, he also said. Trudeau added that he has “one regret” – failing to reform Canada’s election process, ahead of a general election expected this fall. “If I have one regret, particularly as we approach this election — well, probably many regrets that I will think of,” the outgoing leader said. “But I do wish we’d been able to change the way we elect our governments in this country so that people could simply choose a second choice, or a third choice on the same ballot.” How did we get here? Trudeau, leader of the Liberal Party for 11 years and prime minister for nine, was facing a mounting set of crises, from Donald Trump’s tariff threats to the resignation of key allies and disastrous opinion polls. His resignation could be seen as choosing to jump before he is pushed, ahead of a general election to be held later this year that he is widely expected to lose. Trudeau took the Liberals to power in 2015, promising “sunny ways” for Canada. He championed progressive issues like combating climate change and addressing historic abuses against Indigenous peoples, but the latter years of his premiership have been marked by rising economic discontent. A viral confrontation with a steel worker, who criticized Trudeau for not addressing the high cost of living, captured the growing discontent among Canadians. “You’re not really doing anything for us, Justin,” the worker remarked, highlighting a sentiment that resonated widely. Trudeau’s government was also rocked last year by the surprise resignation of Deputy Prime Minister and Finance Minister Chrystia Freeland, just hours before she was due to deliver her annual fiscal update. US President Donald Trump (L) talks with Canada's Prime Minister Justin Trudeau during the plenary session of the NATO summit at the Grove hotel in Watford, northeast of London on December 4, 2019. Related article Trump is going after Canada now – but everyone else is next In a blistering letter of resignation, she criticized Trudeau’s “political gimmicks,” likely referring to a two-month sales tax holiday and 250 Canadian dollar ($175) rebates for most workers. Freeland said Canada could “ill afford” these policies, seen as a pre-election handout to claw back some voters, and coming as the country faces the serious prospect of huge tariffs which could be levied by the incoming Trump administration. US President-elect Donald 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 taken to belittling Trudeau and the country of Canada on social media, referring to the prime minister as the “governor” of the “Great State of Canada.” What comes next? The Liberal Party national executive, which controls leadership issues, is scheduled to meet this week, likely after the caucus. Suspending parliament is designed to give the party time to choose a new leader. Possible replacements include the former governor of both the Bank of England and Bank of Canada Mark Carney, foreign minister Mélanie Joly, and former deputy prime minister Chrystia Freeland. The hope is that a new party leader could bring the Liberals out of their funk, before a general election set to be held on or before October 20. Current polls show Trudeau’s Liberal Party behind the opposition Conservative Party, led by the firebrand Pierre Poilievre. “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,” said Trudeau on Monday. 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 polling averages. Trudeau told reporters on Monday that Poilievre’s conservative vision “is not the right one for Canadians.” “Stopping the fight against climate change doesn’t make sense. Backing off on the values and strength and diversity that Canada has always, always, worked to pull itself together on is not the right path for the country. Attacking journalists, the CBC institutions, that’s not what Canadians need in this moment. We need an ambitious, optimistic view of the future – and Pierre Poilievre is not offering that,” he said. What others are saying Reacting to Trudeau’s resignation Monday, President-elect Trump doubled down on the idea that Canada and the US should merge. “Many people in Canada LOVE being the 51st State. The United States can no longer suffer the massive Trade Deficits and Subsidies that Canada needs to stay afloat. Justin Trudeau knew this, and resigned,” he said on Truth Social. “If Canada merged with the U.S., there would be no Tariffs, taxes would go way down, and they would be TOTALLY SECURE from the threat of the Russian and Chinese Ships that are constantly surrounding them. Together, what a great Nation it would be!!!” he added. Poilievre, who has already found currency with the MAGA base, bolstering his position as a potential candidate for this year’s general election amid an incoming Trump administration, also seized on Trudeau’s resignation to make an offer to Canadian voters. “Canadians can take back control of their lives and their country,” Poilievre said in a video post on X. “Take back control of our border. Take back control of immigration. Take back control of spending, deficits and inflation. “We’ll cap spending, axe taxes, reward work, build homes, uphold family, stop crime, secure borders, rearm our forces, restore our freedom and put Canada first,” he said. And Freeland, a possible contender to replace Trudeau, who said in December that she and Trudeau had “found ourselves at odds about the best path forward for Canada,” thanked him for his service on Monday. “I thank Justin Trudeau for his years of service to Canada and Canadians. I wish him and his family the very best,” she wrote on X. Trudeau said at Monday’s press conference that he had hoped Freeland would continue as his deputy, “but she chose otherwise,” declining to provide more detail on their conversations. CNN’s Lex Harvey and Sana Noor Haq contributed reporting.