Canada's finance minister Chrystia Freeland resigned today after rejecting a cabinet reassignment from Prime Minister Justin Trudeau, triggering a political crisis amid mounting challenges for the Liberal government.

Freeland announced her resignation on X (formerly Twitter), citing fundamental disagreements with Trudeau's leadership direction and his response to U.S. economic threats. The resignation came on the same day as a crucial government economic statement was due.

The crisis deepened as Housing Minister Sean Fraser also resigned, indicating broader dissatisfaction with Trudeau's proposed cabinet shuffle. Dominic LeBlanc was quickly sworn in as the new finance minister.

This political turmoil comes as Canada faces significant challenges, including threats of 25% tariffs from incoming U.S. President Donald Trump unless Canada addresses concerns about drug trafficking and border security. Trudeau recently made an emergency visit to Trump's Mar-a-Lago residence to discuss these issues.

Current polling shows the Conservative Party, led by Pierre Poilievre, commanding 43% support and projected to win up to 233 seats in Parliament. The Liberal Party trails at 21%, with Trudeau's personal approval rating at just 28%. The NDP, currently supporting the Liberal minority government, has indicated it may withdraw its crucial backing.

Betting markets strongly favor a Conservative victory in the next election, with major sportsbooks offering the following odds:

• Conservatives: -1000 to -2000
• Liberals: +500 to +1900
• NDP: +2500 to +6000
• Other parties: +5000 to +50000

The government's economic statement, presented by House leader Karina Gould in Freeland's absence, pledged $1.3 billion for border security over six years, though specific allocation details weren't provided.

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