Canadian Finance Minister Dominic LeBlanc has decided not to run for leadership of the Liberal Party, saying he needs to focus on countering the threat of tariffs from Donald Trump’s administration.

Canadian Finance Minister Dominic LeBlanc on Wednesday said he would not run in the race to be leader of the ruling Liberal Party in the wake of Prime Minister Justin Trudeau's announcement he was stepping down.

Canada’s governing Liberal Party will announce the country’s new prime minister March 9 after a leadership vote following Justin Trudeau's resignation.

Canadian Foreign Minister Melanie Joly on Friday announced she would not run in the race to replace Prime Minister Justin Trudeau, saying she wanted to focus on the threat posed by potential U.S. tariffs.

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.

Canada's ruling Liberal Party is looking for a new leader to replace Prime Minister Justin Trudeau, who announced on Monday he intended to step down.

Canadian Prime Minister Justin Trudeau announced his decision to step down as Liberal Party leader after nine years in power, following poor pre-election poll results. Trudeau will remain as prime minister and party