Important Takeaways:

• Trudeau, who became Liberal leader in 2013 and prime minister in the fall of 2015, announced his long-awaited decision outside his official residence, Rideau Cottage, on Monday morning.
• Trudeau also said he asked Gov. Gen. Mary Simon to prorogue Parliament until March 24, and she granted the request.
• His decision will set off a competitive leadership race to replace him and find a contender to take on the Liberals’ key rival, Conservative Leader Pierre Poilievre, in the next federal election.
• Trudeau has been under mounting pressure to resign amid sinking public opinion polling, including from his own caucus.
• At least two dozen individual MPs and several regional caucuses — including Atlantic Canada, Quebec and Ontario — have called for him to step down since before the holiday break.

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