Joly was expected to run, but she says she’s choosing to stay in her current role, as the incoming American administration threatens to impose 25% tariffs on all Canadian goods.
Joly will travel to Washington, D.C., next week to speak with lawmakers.
The Liberals hope to have a new leader selected by March 9.
For more on the current state of the Liberal leadership race, CHCH News spoke with former Liberal MP Adam Vaughan, now a principal at the communications firm Navigator.