Finance Minister Chrystia Freeland announced Monday morning that she is resigning from Prime Minister Justin Trudeau’s cabinet, hours before the federal government is expected to deliver the fall economic statement.

“On Friday, you told me you no longer want me to serve as your Finance Minister and offered me another position in the Cabinet,” Freeland wrote in a letter addressed to Trudeau that was posted on her social media account.

“Upon reflection, I have concluded that the only honest and viable path is for me to resign from the Cabinet,” Freeland added.

It’s not clear what Freeland’s resignation will mean for the federal government’s fall economic statement, which is expected to be delivered later today.

A senior federal government source told CBC News that Freeland’s announcement was not expected today. It’s not clear who will present the fall economic statement.

In her letter, Freeland said that Canada “faces a grave challenge” and referenced U.S. president-elect Donald Trump’s threat to impose a punishing 25 per cent tariff on all Canadian goods.

“That means keeping our fiscal powder dry today, so we have the reserves we may need for a coming tariff war,” Freeland wrote. “That means eschewing costly political gimmicks, which we can ill afford and which make Canadians doubt that we recognize the gravity of the moment.”

Freeland did not specify in her letter what “costly political gimmicks” means.

The finance minister also urged working “in good faith and humility” with provincial and territorial premiers to build a “true Team Canada response.”

“I know Canadians would recognize and respect such an approach,” Freeland wrote. “They know when we are working for them, and they equally know when we are focused on ourselves.

“Inevitably, our time in government will come to an end,” Freeland went on. “But how we deal with the threat our country currently faces will define us for a generation, and perhaps longer. Canada will win if we are strong, smart, and united.”

All 13 of Canada’s premiers are currently in Toronto for a meeting of the Council of the Federation, chaired by Ontario Premier Doug Ford.

Freeland wrote that she “will always be grateful” for the chance to serve in government and “will always be proud” of the Liberal government’s work for Canada and Canadians.

More to come.