Former journalist Chrystia Freeland is Canada's first female finance minister.
Prime Minister Justin Trudeau named Freeland to the job after Bill Morneau resigned on Monday.
Freeland also keeps her job as deputy prime minister.
She is credited with helping to negotiate the new free trade agreement with United States and Mexico and is considered a favourite to one day replace Trudeau.
Morneau and Trudeau reportedly butted heads amid spending to backstop the pandemic-hammered economy.