Dominic LeBlanc, a long-time ally of Prime Minister Justin Trudeau, has been appointed as Canada’s new Finance Minister following Chrystia Freeland’s sudden resignation. LeBlanc, who previously served as Public Safety Minister, is stepping into the role at a time when Canada is grappling with a budget deficit of CAD 62 billion, much higher than the initial projections due to unforeseen expenses.
LeBlanc, 57, is seen as a trusted confidant of Trudeau and has been involved in several significant international negotiations, including accompanying the Prime Minister to Florida to meet US President-elect Donald Trump. In his new role, LeBlanc will be responsible for managing Canada’s economic challenges, including the looming threat of US tariffs on Canadian goods. The US remains Canada’s primary trading partner, with 75% of its exports heading south every year.
Since the Liberal Party’s victory in 2015, LeBlanc has held various key cabinet positions, notably helping to develop Canada’s billion-dollar border strategy aimed at addressing US concerns over migration and narcotics. LeBlanc will also take on the leadership of the Canada-US cabinet committee, a role previously held by Freeland.
LeBlanc acknowledged the growing concerns about the cost of living for many Canadians and pledged to focus on affordability issues as part of his new responsibilities.
Freeland’s resignation, which followed ongoing tensions between her and Trudeau over handling potential US tariffs and government spending, has created significant political upheaval. Her departure leaves Trudeau without a key ally, particularly as the country faces a much higher-than-expected budget deficit of CAD 61.9 billion. Freeland had been expected to present an economic update to parliament before her resignation.
With the opposition growing stronger, especially from the New Democrats, Trudeau’s leadership could be at risk in the coming months. The NDP has indicated they may vote to bring down the government next year unless Trudeau steps down.
