OTTAWA — Canada's Prime Minister Justin Trudeau announced his resignation on Monday in the face of rising discontent over his leadership and after the abrupt departure of his finance minister signaled growing turmoil within his government.

Trudeau said it had become clear to him that he cannot "be the leader during the next elections due to internal battles".

He planned to stay on as prime minister until a new leader of the Liberal Party is chosen.

"I don't easily back down faced with a fight, especially a very important one for our party and the country," he said. "But I do this job because the interests of Canadians and the wellbeing of democracy is something that I hold dear."

He said Parliament, which had been due to resume on Jan 27, would be suspended until March 24 to allow time for a Liberal Party leadership race.

All three main opposition parties have said they plan to topple the Liberal Party through a nonconfidence vote when Parliament resumes, so a spring election is almost assured.

"The Liberal Party of Canada is an important institution in the history of our great country and democracy. A new prime minister and leader of the Liberal Party will carry its values and ideals into that next election," Trudeau said. "I am excited to see that process unfold in the months ahead."

Trudeau came to power in 2015 after 10 years of Conservative Party rule, and had initially been hailed for returning the country to its liberal past. But the 53-year-old son of one of Canada's most famous prime ministers became deeply unpopular with voters in recent years over a range of issues, including the soaring cost of food and housing, and surging immigration.

The political upheaval comes at a difficult moment for Canada internationally. United States president-elect Donald Trump has threatened to impose 25 percent tariffs on all Canadian goods if the government does not stem what Trump calls a flow of migrants and drugs in the US.

Canada is a major exporter of oil and natural gas to the US, which also relies on its northern neighbor for steel, aluminum, and autos.

Trudeau kept publicly quiet in recent weeks, despite intensifying pressure for him to step down.

Canada's former finance minister, Chrystia Freeland, announced her resignation from Trudeau's Cabinet on Dec 16, criticizing some of Trudeau's economic priorities in the face of Trump's threats. The move, which came shortly after the housing minister quit, stunned the country and raised questions about how much longer the increasingly unpopular Trudeau could stay in his job.