Canada's Liberal Party to decide who will be the country's next prime minister on March 9

TORONTO -- Canada's governing Liberal Party will announce the country's next prime minister on March 9 after a leadership vote that follows the resignation of Justin Trudeau this week, party leaders said late Thursday.

Trudeau remains prime minister until a new leader is chosen.

The front runners for the Liberal leadership are former central banker Mark Carney and ex-Finance Minster Chrystia Freeland, whose abrupt resignation last month forced Trudeau's exit.

“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,” Sachit Mehra, President of the Liberal Party of Canada, said in a statement.

The political upheaval comes at a difficult moment for Canada. U.S. President-elect Donald Trump keeps calling Canada the 51st state and has threatened to impose 25% tariffs on all Canadian goods.

The next Liberal leader could be the shortest-tenured prime minister in the country's history. All three opposition parties have vowed to bring down the Liberals' minority government in a no confidence vote after Parliament resumes on March 24.

Recent polls suggest the Liberals’ chances of winning the next election look slim. In the latest poll by Nanos, the Liberals trail the opposition Conservatives 45% to 23%.

Trudeau announced his resignation Monday after facing an increasing loss of support both within his party and in the country.

The 53-year-old scion of Pierre Trudeau, one of Canada’s most famous prime ministers, became deeply unpopular with voters over a range of issues, including the soaring cost of food and housing as well as surging immigration.

Trudeau told Freeland last month he no longer wanted her to serve as finance minister but that she could remain deputy prime minister and the point person for U.S.-Canada relations. Freeland resigned shortly after and released a scathing letter about the government that proved to be the last straw for the embattled leader.

Freeland has been talking to her colleagues this week to discuss next steps.

After she resigned, Trump called Freeland “totally toxic” and “not at all conducive to making deals.” Freeland was Canada's point person when the U.S, Canada and Mexico redid its free trade deal during the first Trump administration.

Freeland is a combination of many things that seem to irritate Trump: a liberal, a Canadian, and a former journalist. Freeland, who is of Ukrainian heritage, also has been a staunch supporter of Ukraine in its war against Russia

In 2012, Carney was named the first foreigner to serve as governor of the Bank of England since it was founded in 1694. The appointment of a Canadian won bipartisan praise in Britain after he served as the head of Canada's central bank and after Canada recovered faster than many other countries from the 2008 financial crisis.

Carney is a highly educated economist with Wall Street experience who is widely credited with helping Canada dodge the worst of the 2008 crisis and helping the U.K. manage Brexit.

He has long been interested in entering politics and becoming prime minister but lacks political experience. He said this week in a statement that he is encouraged by the support he has had, and that he will consider his decision with family over the next few days.

The party’s National Board of Directors announced the rules of the race late Thursday.

The Liberal party said the fee to join the leadership race will be $350,000 Canadian ($243,000) and candidates must declare by Jan. 23. The party said voters for the party leadership must be a Canadian citizen or a permanent resident.

The Liberals changed their rules years ago to make it easier for people to register as party members and vote in leadership elections, including eliminating all fees. But some Members of Parliament have said the party needs tighten its rules on who can register as a member after a foreign-interference inquiry heard about foreigners voting in local nomination races.

“Protecting the integrity of our democratic process, while still engaging as many people as possible, is one of the Liberal Party of Canada’s top priorities,” the party said in a statement.