Freeland, considered a pragmatic minister who handled the renegotiation of the North American free trade agreement with Mexico and the U.S., would be the first woman to hold the role
Justin Trudeau named Chrystia Freeland as Canada’s finance minister, according to a source familiar with the matter, replacing Bill Morneau, who resigned Monday evening. Freeland, considered a pragmatic minister who handled the renegotiation of the North American free trade agreement with Mexico and the U.S., would be the first woman to hold the role.
“The choice of Deputy Prime Minister Chrystia Freeland will reassure financial markets, given her prominent stature and seniority,” Doug Porter, chief economist at Bank of Montreal, said in an email. “Given that this is clearly not a ‘placeholder’ candidate, and as someone who can be expected to stand her ground on key issues, her choice will provide some confidence.”
Freeland’s appointment was reported first by CTV News. The Canadian dollar rose against its U.S. counterpart, climbing 0.5% to C$1.3156 at 8:43 a.m. Toronto time, though it was lower versus most other major currencies. Government bond yields were little changed. Morneau announced his resignation at a press conference in Ottawa after a rift with Trudeau proved impossible to repair. He said he told the prime minister earlier Monday that he doesn’t intend to run in the next election.
